Osaka/Barcelona – Panasonic Corporation (Head office: Kadoma City, Osaka, President: Kazuhiro Tsuga; hereinafter, Panasonic) announced today that it has completed its previously announced acquisition of additional shares in Ficosa International, S.A. (Head office: Barcelona City, Spain, CEO: Javier Pujol; hereinafter, Ficosa), which is a global tier 1 supplier of automotive parts and systems, after the… Continue reading Panasonic Completes Acquisition of Additional Shares of Ficosa,a Global Tier 1 Automotive Parts & Systems Supplier
Tag: Strategy
Hellobike Raises Series B+ Round From EV Start-Up WM Motor
WM Motor, an electric vehicle start-up founded by the former China head of Volvo Car Corporation, has made a strategic investment in Hellobike, a bike-sharing start-up focused on mid-size cities across China. Hellobike, which two months ago raised hundreds of millions of RMB in a series B round led Chengwei Capital, and is also backed… Continue reading Hellobike Raises Series B+ Round From EV Start-Up WM Motor
Chinese Bike Sharing Firm Mobike Rumored To Acquire Smaller Peer UniBike
Mobike is in the process of acquiring a smaller peer, Xiamen city-based UniBike, for an undisclosed amount of money; the first merger deal in China’s red-hot bike sharing industry, according to local media reports citing insiders. In response to China Money Network’s inquiry, Mobike representative Chen Qian said the information is not accurate, but refused… Continue reading Chinese Bike Sharing Firm Mobike Rumored To Acquire Smaller Peer UniBike
BAIC’s Electric Vehicle Unit Raises $1.6B In Series B Round
Chinese car maker Beijing Automotive Group’s (BAIC Group) electric vehicle business unit, BAIC BJEV, has raised a RMB11.1 billion (US$1.6 billion) series B round from 14 investors, including state-owned enterprises China Cinda Asset Management Co., Ltd. and Zhongji Investment, a firm co-founded by the Hebei provincial government. The round values BJEV at RMB28 billion (US$4.2… Continue reading BAIC’s Electric Vehicle Unit Raises $1.6B In Series B Round
China Harmony New Energy Auto’s After-Sales Unit Raises $41M
Hong Kong-listed China Harmony New Energy Auto Holding Ltd. has completed a spin-off of an after-sales unit, which has reached agreements to received RMB280 million (US$41 million) from a few strategic investors, according to a disclosure filing. Automobile industry-focused investment firm Leaguer Auto and Aotuo Investment have agreed to invest in Independent Aftersales Company, an… Continue reading China Harmony New Energy Auto’s After-Sales Unit Raises $41M
Tencent Partners With Guangzhou Automobile Group To Break Into Automotive Industry
Tencent Holdings Ltd. has signed a strategic partnership agreement with Guangzhou Automobile Group Co., Ltd. to discuss possible cooperation in automobile e-commerce, automobile insurance and new energy vehicles, according to a statement issued by Guangzhou Automobile Group. The agreement with Guangzhou Automobile Group, whose shares traded on Hong Kong and Shanghai stock exchanges soared on… Continue reading Tencent Partners With Guangzhou Automobile Group To Break Into Automotive Industry
Tencent Leads $600 Million Series E Financing Round In Mobike
Chinese bike rental firm Mobike has raised over US$600 million in a series E financing round led by Tencent Holdings Ltd., the largest financing round to date in the bike sharing space, the firm announced today. It brings the company’s total fundraising this year to nearly US$1 billion. The round was joined by existing investors… Continue reading Tencent Leads $600 Million Series E Financing Round In Mobike
Chinese Bike Rental Firm Mobike Launches Services In The UK
Shanghai-based smart bike rental firm Mobike today announced it will launch its service in the British cities of Manchester and Salford later this month, marking the multi-billion dollar start-up’s first operation outside of Asia and the beginning of further expansion in Europe. Starting June 29, people in Manchester and Salford will be able to download… Continue reading Chinese Bike Rental Firm Mobike Launches Services In The UK
LeEco’s EV Unit Le Supercar Names New CEO As Co-Founder Ding Lei Steps Down
Ding Lei, co-founder and chief executive officer of China of LeEco’s electric car affiliate Le Supercar, has left the company due to personal health issues, the executive disclosed on his Weibo account today. LeEco has appointed Zhang Hailiang, previously president and chief operating officer at Le Supercar, as the unit’s new head. It also hired… Continue reading LeEco’s EV Unit Le Supercar Names New CEO As Co-Founder Ding Lei Steps Down
China’s Online Food Ordering Market Matures With 75% Penetration Rate
Over 75% of China’s netizens have ordered food online or via mobile apps, up from 35% two years ago, says a new research report by Tencent Holdings Ltd. In comparison, the penetration rate for online food delivery in the U.S. is at around 5%, according to a recent Morgan Stanley research report. The convenience of… Continue reading China’s Online Food Ordering Market Matures With 75% Penetration Rate