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Harmony Auto and Continent Insurance reach strategic cooperation

ZHENGZHOU, Henan – China Harmony New Energy Auto Holding Ltd. (Harmony Auto) and China Continent Insurance Co., Ltd. (Continent Insurance) signed a strategy cooperation agreement here on January 15 where they will cooperate in investment and financing, insurance, and innovation exchange. Liu Fenglei, executive director and CEO of Harmony Auto,

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Geely’s Cao Cao ride-hailing platform raises £¤1 billion in Series A funding, now valued at over £¤10 billion

BEIJING – Cao Cao, a ride-hailing platform invested by Geely Holding Group, announced on January 17 that it has successfully undergone its Series A round of funding raising ¥1 billion, giving the two-year old innovative mobility solutions company an initial valuation of over ¥10 billion. With over 10 million registered

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DiDi Chuxing’s latest $4 billion financing round to support AI, international expansion and NEV ecosystem

BEIJING – DiDi Chuxing, the world’s leading mobile transportation platform, announced on December 21 the completion of a new equity funding round of over $4 billion to support AI capacity-building, international expansion, and new business initiatives including the development of new energy vehicle service networks. In a testament to strong

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IHS Markit: China to drive trillion dollar “mobility services” transformation

BEIJING – China will be at the forefront of a transformation where new carb-based “mobility services” will become a trillion dollar industry by 2040, up from essentially zero a decade ago, according to industry consultancy IHS Markit. This was announced by IHS Markit at a press briefing on December 12 based

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Eleven automakers announce recalls of 1.13 million vehicles in November

BEIJING – Eleven vehicle enterprises announced recalls of about 1.13 million cars and more than 200,000 tires in China in November, which included Mercedes-Benz, Dongfeng-Honda, FAW-Volkswagen, Hyundai and so on, according to a series of notices released by the Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) recently. The top

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SouChe raises $335 million Series E round led by Alibaba

HANGZHOU – SouChe, China’s leading online automobile transaction platform, announced recently that it has closed its $335 million Series E funding round led by Alibaba with participation from Warburg Pincus, Primavera Capital and CMB International. The latest financing round comes less than 12 months from the $100 million Series C

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