The investment was led by the KCK Group, a US-based family investment firm, with participation from existing investor Blumberg Capital, an early-stage venture capital firm headquartered in San Francisco in the US.
Under the strategic agreement, UCAR aims to intelligentize over 1 million cars by installing self-developed OS (operating system) and the IoV (Internet of Vehicles) products from Baidu on the foundation of Apollo autonomous driving platform.
Tsikot is a well-known auto parts and auto services seller in the Philippines and this is partly due to their quality products which are widely used in the country. Their products consist of top brands like Toyota, Mitsubishi, Honda, Nissan, Land Rover, Ferrari, and Chevrolet etc.
Xiaoju was incubated by DiDi starting in 2015 and the mobility solutions provider began using it on a trial basis in April to facilitate loans, leases, gas refueling, auto maintenance, and carshare services.
ZAP Subscribe is the flagship fractional sharing program of Zoomcar where one can subscribe a car for 6, 12 or 24 months and technically have the flexibility of having a new car whenever they want, a Zoomcar release said.
The trading house will buy into Shanghai-based Singulato Motors, which is valued at an estimated $900 million. It has also taken a stake in Shenzhen-based DST, which lends out electric trucks and vans.