GM makes strategic investment in Chinese car-sharing tech company

GM has announced an investment in Yi Wei Xing (Beijing) Technology Co Ltd, a leading car-sharing technology solution provider in China, as another move in exploring personal mobility in China.

The investment and strategic alliance will leverage Yi Wei Xing’s technical offering, and are in line with GM’s drive to explore new car-sharing models, gain insights into China’s rapidly changing car-sharing market and develop a deep understanding of Chinese consumers’ personal mobility needs.

The equity investment follows GM’s global strategy to drive new initiatives in the future of personal mobility. GM launched its car-sharing service brand Maven in January 2016. Maven’s mission is to give consumers access to highly personalised, on-demand mobility services. It expanded its services to five markets in less than four months in the US after its launch.

“Every market has its unique requirements for car-sharing services,” said Julia Steyn, GM vice-president of Urban Mobility Programs. “Yi Wei Xing has solid technologies and innovations that will help us explore more efficient and personalised mobility solutions for consumers in China.”