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GM Expands Car Sharing Interests With Investment in Yi Wei Xing

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General Motors has shown an eye for the future of transportation by investing big in car sharing and ridesharing companies. GM has already invested quite a bit (as in $500 million) in Lyft, and partnered with the company to create Express Drive, which allows Lyft drivers to rent GM vehicles. The company also has its own car-sharing service, Maven, which has so far launched in 9 major US cities.

And now GM is revealing its car sharing ambitions to be truly global, the company today announced an investment in Yi Wei Xing (Beijing) Technology Company, a leading car sharing technology solution provider in China.

The company says that this is yet another way to explore personal mobility in China.

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GM says that the investment and strategic alliance will leverage Yi Wei Xing’s technical offering, and will help the company continue to explore new car-sharing models and gain insights into China’s rapidly changing car sharing culture. GM also seeks to develop a deep understanding of Chinese consumers’ personal mobility needs through this investment.

“The equity investment follows GM’s global strategy of redefining the future of personal mobility,” the company stated in a new press release. “GM 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. 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’s 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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