Shanghai-based bike sharing company Mobike has begin a trial to monetize its vast network of five million bikes around 100 cities globally by selling raincoats at RMB268 (US$39.5) apiece, in its first major attempt to make money outside of charging users for rides. The company, which has raised nearly US$1 billion this year at a… Continue reading Mobike Starts Selling Raincoats In First Attempt To Monetize Via E-Commerce
Tag: Strategy
Panasonic Completes Acquisition of Additional Shares of Ficosa,a Global Tier 1 Automotive Parts & Systems Supplier
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
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
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
Tencent Leads $600 Million Series A Financing Round In Mobile
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 A Financing Round In Mobile
China’s FDG Electric Vehicle Hires Former Volvo China Head As COO
Chinese electric vehicle company FDG Electric Vehicles Ltd. has named Tong Zhiyuan, formerly the chief executive officer of Volvo Car Corporation China District, as its chief operating officer and executive director, effective immediately. Tong will act as the head of FDG’s electric vehicle division, and will oversee daily operation and management, research and development at… Continue reading China’s FDG Electric Vehicle Hires Former Volvo China Head As COO
CITIC Securities Leads $400M Round In EV Battery Maker Microvast
CITIC Securities has led a US$400 million funding round in Microvast Power System (MPS), an electric vehicle power system solutions provider and a subsidiary of U.S. and China-based Microvast. China’s CDH Investment, National Venture Capital and other unnamed investors also participated in the round. MPS is a vertically integrated developer and manufacturer of advanced electric… Continue reading CITIC Securities Leads $400M Round In EV Battery Maker Microvast