Chinese EV Sharing Platforms Seeking New Funds
Chinese EV Sharing Platforms Seeking New Funds

Chinese EV Sharing Platforms Seeking New Funds

Chinese EV Sharing Platforms Seeking New Funds

Two electric vehicle-sharing platforms backed by powerful Chinese carmakers plan to seek external funding totaling almost $730 million to fuel their growth, people with direct knowledge of the plans said. The moves come as Beijing continues its push into the new energy vehicle (NEV) sector as part of efforts to cut pollution and boost cutting-edge technology, Reuters reported. Caocao Zhuanche, a chauffeur ride-hailing platform backed by Zhejiang Geely Holding Group, is aiming to raise up to 3 billion yuan ($437 million) in a new funding round, at a valuation of about $3 billion, three people said. EvCard, an electric vehicle rental service under state-owned SAIC Motor Corp, is also considering raising some 2 billion yuan ($292 million) from external investors, according to a person with direct knowledge. Both platforms claim they are the first in China to offer such NEV car-sharing services. Caocao currently operates across 25 cities in China with a fleet of around 16,000 Geely-produced new energy vehicles, while EvCard has operations in 62 cities with over 27,000 cars in use, according to their websites.


Short URL : https://goo.gl/ijXazX
  1. https://goo.gl/BrKBNc
  • https://goo.gl/QVxKWA
  • https://goo.gl/C9Rjtw
  • https://goo.gl/evfsvW
  • https://goo.gl/HyN2cP

You can also read ...

BMW’s Tech-Stuffed Concept SUV Heralds Fancy, Electric Future
Changing notions of what customers want from cars have pushed...
Tesla Hits New Speed Bump
Tesla Inc’s Chief Executive Officer Elon Musk on Sunday...
Oil & Gas Sector Most Conducive for Business
The research arm of Iran’s Parliament has conducted a first-of...
3 CBI Officials  to Leave
Following the recent passage of the law banning the employment...
CBA Concerned About Forex Outflow to Iran
The Central Bank of Afghanistan raised concerns about the...
Anzali Port to Be Connected to National Railroad
Anzali Port in the northern Gilan Province will be connected,...
Mineral Trade Surplus Hits $2.9b
Iran exported more than 25.47 million tons of mineral products...
Departure Tax Revenues  Up 117 Percent
The government earned 3 trillion rials ($24 million) from...

Add new comment

Read our comment policy before posting your viewpoints