GM takes stake in Chi­nese car-shar­ing

China Daily (Canada) - - ACROSS AMERICAS -

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.

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