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January 21, 2016

GAC invests in Uber China

GAC Group (Guangzhou Automotive) has become a strategic investor in Uber Technologies Inc's China operations. The move is being seen as one that will boost both Uber’s presence in China and provide an opportunity for increased vehicle sales to GAC.

By David Leggett

GAC Group (Guangzhou Automotive) has become a strategic investor in Uber Technologies Inc's China operations. The move is being seen as one that will boost both Uber's presence in China and provide an opportunity for increased vehicle sales to GAC.

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In a statement released on Wednesday, GAC said its overseas subsidiary, Zhonglong Investment Co, had invested about US$100m in Uber's second round of financing for its China operations.

In December, they signed a strategic partnership agreement under which GAC would cooperate with Uber China in sectors like equity investment, car sales, financing, service and market operations, especially for promotion of new-energy vehicles.

Uber has been seeking new local investors for its business in China, so that it can be recognised as a local firm by industry regulators.

Uber has invested more than 6.3 billion yuan in China, with services covering 22 Chinese cities since its China operation was established in the China (Shanghai) Pilot Free Trade Zone in 2015.

In addition to the partnership with GAC, Uber China has also established strategic partnerships with some of China's leading enterprises in various industries, in support of its long-term commitment to the China market.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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