Caocao Car, China’s first new energy-focused mobility service provider, has raised one billion yuan. At present, the company is operating in more than 17 cities in China.
Beijing-based bike rental service Ofo will launch its services in India in a tie-up with Paytm.
Air service is impacted by high-speed rail, but it does not lead to a significant reduction of passengers; and the new rail industry is seeing its most vibrant growth in China.
Ofo investor Xiaohu Zhu from GSR Ventures is rumored to have sold his shares in bike rental firm ofo to Alibaba for USD 3 billion.
Chinese ride-hailing firm Didi plans to launch a bike-sharing platform within its app that will host partner firms such as Ofo as well as its own bike-sharing brand.
Lyft's value is estimated at $7.5 billion. It plans to expand into the healthcare industry and corporate travel business, and looks for partnerships with hotels.
China’s ride-hailing application Didi Chuxing has agreed to acquire control of Brazil’s 99, the companies said in a statement on Wednesday, potentially creating a formidable rival to Uber.
China set to make a total of 732 billion yuan ($112.55 billion) in fix-assets investment in railway construction in 2018, according to a report by Security Daily, citing China Railway Corporation.
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