After two Chinese bike sharing start-ups Ofo and Mobike raised a combined US$230 million in October, a third bike sharing company is joining the battleground. An investment unit of Shenzhen-listed chemicals and trading company Jiangsu Huaxicun Co., Ltd. has led a RMB150 million (US$22 million) series A funding round in Ubike, a new comer to… Continue reading New Chinese Bike Sharing Start-Up Raises $22M To Compete In Heated Market
Tag: M and A
Panasonic to Partner with Colorado Department of Transportation to Deliver Integrated Connected Vehicle Platform
Joint program targets I-70 Mountain Corridor to Optimize Driver Safety, Roadway Efficiency [embedded content] Denver, Colorado, U.S. – On October 26, 2016, Panasonic, a global leader in smart and sustainable automotive and infrastructure technology solutions, announced that it would partner with the Colorado Department of Transportation (CDOT) to build a connected transportation program in which… Continue reading Panasonic to Partner with Colorado Department of Transportation to Deliver Integrated Connected Vehicle Platform
Didi-Backed ofo Secures $130M Series C As Bike-Sharing Battle Leads To Predictable Ending
A week after bike sharing firm Mobike announced an over US$100 million fundraising, Beijing-based rival ofo said it had secured US$130 million series C financing round led by CITIC Private Equity, Coatue Management and Xiaomi Inc. The drama seems all too familiar: Two companies engaged in competitive fundraising, while trying to outbid each other on… Continue reading Didi-Backed ofo Secures $130M Series C As Bike-Sharing Battle Leads To Predictable Ending
Taxify Launches in 3 Countries in August
Taxify Launches in 3 Countries in August You can now request a reliable ride in Hungary, Romania and Kenya. Taxify is available in Budapest, Hungary since Friday, August 19th. Budapest, Hungary The local market is heavily regulated — all app companies need to own a taxi operator license, the cars need to look the same and charge prices set by… Continue reading Taxify Launches in 3 Countries in August
Didi And Uber China Ink Landmark Deal To Merge Operations In China
In a landmark deal, Chinese ride share giant Didi Chuxing has agreed to acquire all assets of Uber China, including its brand, business operations and data for operation within China, according to a company announcement. In exchange for the Uber China assets, Uber will receive 5.89% of the combined company with preferred equity interest which… Continue reading Didi And Uber China Ink Landmark Deal To Merge Operations In China
TI Automotive Opens New Manufacturing Facility In Monterrey, Mexico
AUBURN HILLS, Mich. (April 13, 2016) — TI Automotive, a leading global supplier of automotive fluid systems technology, has opened a new manufacturing facility in Monterrey, Mexico. The new, 53,000 square-foot facility will produce fluid carrying systems for the new Hyundai/ Kia manufacturing facility located nearby. TI Automotive is expected to employ around 100 people… Continue reading TI Automotive Opens New Manufacturing Facility In Monterrey, Mexico
TI Automotive Acquires Millennium Industries Corporation
AUBURN HILLS, Mich. (Feb 16, 2016) – TI Automotive, a leading global supplier of advanced automotive fluid carrying and delivery systems has acquired Millennium Industries Corporation, a Ligonier, Indiana, based producer of powertrain products for the automotive industry. Acquisition strengthens TI Automotive powertrain product portfolio, expertise and manufacturing reach TI Automotive currently provides gasoline direct-injection… Continue reading TI Automotive Acquires Millennium Industries Corporation
Daimler Project DENZA Prepares Market Introduction
DENZA well on track: market introduction in 2014 World premiere at the Auto China 2014 in Beijing First dealerships to open mid next year in Beijing, Shanghai, China and Shenzhen, China Intensive testing program for pre-production models: focus on safety and reliability Production tests in Shenzhen successfully underway … Continue reading Daimler Project DENZA Prepares Market Introduction
DENZA All-Electric Vehicle Showcased at the 2015 Shanghai Auto Show
• DENZA all-electric vehicle shines at the 2015 Shanghai Auto Show • DENZA combines Daimler’s renowned tradition and engineering expertise as a worldwide leader in safety technology and quality excellence with BYD’s leading battery technology. • The CEO of the joint venture Yan Chen said “The DENZA EV has been welcomed by many families just… Continue reading DENZA All-Electric Vehicle Showcased at the 2015 Shanghai Auto Show
China Life Insurance To Invest $600M In Didi Chuxing
China’s largest ride share company Didi Chuxing has received a US$600 million investment from China Life Insurance Co. Ltd., following a US$1 billion injection from Apple Inc and a US$400 million infusion from Alibaba Group Holdings Ltd. and its Internet finance unit Ant Financial last month. According to Tencent Technology citing a company announcement, China… Continue reading China Life Insurance To Invest $600M In Didi Chuxing