General Motors has invested in Chinese car-sharing company Yi Wei Xing (Beijing) Technology Co., the current venture by the U.S. automobile giant into alternative transport services.
Yi Wei Xing deals with car-rental business and allows clients to rent cars by the minute, hour or day through its mobile phone app, Feezu. Developed in 2014, the company runs in over 40 Chinese cities.
“Every market has its distinct requirements for car-sharing services,” stated Julia Steyn, General Motors vice president of Urban Mobility Programs. “Yi Wei Xing has solid technologies and developments that will assist us explore more effective and personalized mobility options for customers in China.”
Spokesperson at General Motors and Yi Wei Xing both declined to reveal the size of the investment.
