General Motors Invests In, Forms Strategic Alliance With Chinese Yi Wei Xing Car Sharing Service
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General Motors Company has announced that it has made an investment in and formed a strategic alliance with Yi Wei Xing, a leading Chinese car-sharing technology solution provider based in Beijing.
Though the amount of the equity investment was not disclosed, the automaker describes the move as “exploring personal mobility in China” and that it will leverage Yi Wei Xing’s Feezu car-sharing service. GM added that the initiative is in line with its global strategy of redefining the future of personal mobility. With the partnership, it will “gain 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 tie-up is GM’s second major car-sharing effort, with the automaker having launched its car-sharing service brand Maven in January 2016. Maven’s mission is to give consumers access to highly personalized, on-demand mobility services. The service expanded its presence to five markets in less than four months in the U.S. 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 personalized mobility solutions for consumers in China.”
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