US automaker General Motors Co made its first investment in a Chinese car-sharing start up, the company said on Tuesday, as its attempt to reshape itself as a mobility solutions company spreads around the globe. A GM spokeswoman declined to disclose the size of the investment in Yi Wei Xing (Beijing) Technology, which developed Feezu, a car rental and car-sharing app. “This cooperation is very important to our company to explore ride-sharing market in China,” the spokeswoman said in an email to Reuters. “It is GM’s first investment in a start-up in China related to urban mobility.” This year GM made a $500 million investment in U.S. ride-hailing company Lyft, while Japan’s Toyota partnered with Uber and Germany’s Volkswagen tied up with Israel-based car-hailing firm Gett.
Categories