Uber China, GAC Group Team For New Energy Car Development
December 28, 2015 |



Uber China and Guangzhou Automobile Group Co., Ltd. inked a strategic deal in equity investment, automobile sales, service, finance, marketing, and new energy car development.
Uber reportedly plans to cooperate with GAC Group in new car purchases and a used car trading platform. At the same time, Uber will use its big data technology and brand advantages to help GAC Group expand its market in China and abroad.
IUber and GAC Group will implement full cooperation to develop energy-saving and new energy cars, covering hybrid vehicles and pure electric vehicles. It is unclear though how Uber, which is a foreign company, will invest and take part in the electric vehicle business.
Uber's businesses have reached over 360 cities in 67 countries and regions around the world and it is the only mobile travel platform that realizes true global coverage. In February 2014, Uber started operation in China. So far, it has entered 21 Chinese cities and the company plans to increase the number of 100 over the next 12 months. its road in China has been rocky though, as it competes with entrenched rivals who appear to have the backing of local governments.
In October 2015, Uber registered a new company in the China (Shanghai) Pilot Free Trade Zone with CNY2.1 billion registered capital and the company promised to invest up to CNY6.3 billion in China in the future. In addition, with a planned investment of CNY63 million, its operating center in the Wuhan East Lake High-tech Development Zone also began.
Leave A Comment:
-
Education
- PolyU research reveals that short-term study-in-China programmes promote local university students’ intercultural competence and understanding of Mainland China
- GE Will Promote Wind Power Through New Chinese Education Center
- Guizhou Tourism Spot Added To World Heritage List
- American Educational Program Will Participate In Chinese Exchange
- Chinese Tech Giant Expands Educational Opportunities In America
-
Energy & Cleantech
-
Environment
-
Giving
- Tencent's CEO Commits 100 Million Shares Towards Charity
- Chinese Taxi Apps Donate CNY1 Million For Nepal Earthquake Relief
- Axalta Employees Gather For Tree Planting In Northern China
- Chinese E-commerce Company Supports Poverty Alleviation Initiative
- JD.com Donates CNY10 Million Scholarship To Renmin University
-
Happenings
-
Health
- Mead Johnson Settles Chinese Corruption Case Involving Infant Health
- Beijing Government Applies IBM's Cloud Computing To Solve Smog Problem
- Harmful Substances Found On Children's Clothing Made In China
- New Product Quality Issue Arises From New Zealand Milk Exported To China
- Mead Johnson Nutrition Penalized In Chinese Antitrust Case
-
Labor
-
Law & Order
-
Viewpoints
- Companies Can Help In The March Towards Better Consumer Rights In China
- CSR Review: Companies Have More Opportunities To Develop In China
- How Far Can Chinese Companies Take Corporate Social Responsibility?
- CSR Review: Companies Focus On Sustainability In China During Downturn
- Global Financial Woes May Impact Corporate Social Responsibility In China