GM takes stake in Chinese car-sharing
innovations that will help us explore more efficient and personalized mobility solutions for consumers in China.”
As ride- hailing services like Uber in the US and Didi Chuxing in China have grown, GM and other major automakers have been quick to partner with companies and participate in this fastgrowing segment of what is referred to as the “sharing economy”.
Earlier this year, GM invested $500 million in the ride-hailing company Lyft and also launched Maven, which provides short-term car rentals.
“This is an important step for GM to explore and engage with new mobility markets in China, in particular with a company who already has a presence in that market,” Jeremy Carlson, principal automotive analyst for IHS Markit, said in an email.
“GM has been aggressively building up the Maven brand, and the investment in Yi Wei Xing may be a signal that the automaker is likely looking to bring its Maven brand to China, a very important market both for new mobility solutions and for the company overall,” he said.
“Only time will tell if this move is significant, but it shows that GM is paying close attention to the Chinese market,” Dennis said.