GM makes strategic investment in car-sharing provider Yi Wei Xing
by Lei Xing
SHANGHAI – GM on October 11 announced an investment in Yi Wei Xing (Beijing) Technology Co., Ltd. (Yi Wei Xing), 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 of redefining 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 personalized, on-demand mobility services. It expanded its services 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.”
Yi Wei Xing’s product, Feezu (Weizuche), is based on mobile technology. It merges hardware and software to provide a convenient car-rental and car-sharing experience. It also offers car-rental companies a customized cloud-based car-sharing platform.