Automobile companies can’t afford to ignore the huge opportunity Chinese market offers. Apart from being a huge car market, it is also a big market for related transportation services. The latest validation of this massive opportunity comes in the form of an investment by General Motors in Yi Wei Xing. Yi Wei Xing is a leading car sharing technology provider in China and its product Feezu offers convenient car rental and car sharing experience.
Along with this, the company also offers a customisable cloud based car sharing platform for other car rental companies. GM says that it is another move in exploring personal mobility in China. GM has been on a drive to explore new models for car sharing and launched its car sharing service brand Maven earlier this year. The service was expanded to multiple markets over few months soon after the launch in January.
“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 personalized mobility solutions for consumers in China.”
The companies haven’t disclosed the details of the deal. The investment would allow GM to better understand the usage patterns in Chinese market and learn how people prefer to move. The American car maker has been making quick moves in the transportation space in a bid to be a part of the future of mobility. GM earlier acquired Cruise Automation, a startup working on driverless cars. The company also invested USD 500 million in Uber rival Lyft with the motive to build driverless cabs in future.
Other car companies aren’t left behind either. Volvo has been integrating features in vehicles to make sharing easier and has been pushing its own rental service Sunfleet. The Swedish manufacturer is also working with Uber, which recently acquired Otto, to develop driverless vehicles. Almost all the major automaker are now trying to be a part of the sharing trend for now and a driverless future in the long run which means it is very likely we will see more such developments in this space.
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