Michelin invests in Luli for the riding-sharing market in China

Michelin has invested in the Chinese start-up company Luli Information Technology, based in Shanghai. Luli was set up in 2014 to develop applications for vehicle ride-sharing services in China, and created the app Lu You Tong Xing Michelin said its investment, through the French global tyre maker’s Incubator programme, will help Luli develop more products in a market where ride-sharing is growing in popularity. Jean-Claude Zhang, chief executive of Luli Information Technology said Michelin’s investme
September 2, 2015 Read time: 2 mins
720 Michelin has invested in the Chinese start-up company Luli Information Technology, based in Shanghai.

Luli was set up in 2014 to develop applications for vehicle ride-sharing services in China, and created the app Lu You Tong Xing

Michelin said its investment, through the French global tyre maker’s Incubator programme, will help Luli develop more products in a market where ride-sharing is growing in popularity.

Jean-Claude Zhang, chief executive of Luli Information Technology said Michelin’s investment “gives Luli exceptional visibility as a challenger in the market but also promising business opportunities”.

Philippe Barreaud, head of Michelin’s innovation incubation programme in Asia said the investment “clearly strengthens Michelin’s position as a player in the area of sustainable mobility and also creates an additional channel to promote our offering of products and services to consumers in China”.

Michelin’s Incubator Programme Office has two incubators in the United States and in China, together with a third incubator in Europe.
Finance & Funding Highway & Network Management

For more information on companies in this article

Related Content

  • XCMG is further developing its overseas activities
    July 29, 2015
    XCMG is developing its overseas activities with a programme called 'One Belt, One Road'. Representatives from 18 countries recently travelled to XCMG’s headquarters in China to launch the firm’s new Overseas Service Activity. This is focusing particularly on service support for customers involved in the New Silk Road project.
    Read More
  • Eurasphalt & Eurobitume 2016 Congress calls for better communication
    August 5, 2016
    The bitumen industry needs to learn how to communicate with road owners, road users, and communities. This was one of the underlying themes to emerge from the Eurasphalt & Eurobitume 2016 Congress, held in the Czech capital Prague in June. Kristina Smith was there.
    Read More
  • UK investing in clean engine technologies
    July 15, 2013
    The UK Government is pledging to invest heavily in new engine technologies. This strategy is intended to keep the UK as a technology leader in the field of engine developments, with a particular focus on the automotive sector. The plans are to develop new, low emission vehicles using innovative powertrain systems, such as plug-in hybrids, electric vehicles and fuel cell vehicles. In all some €1.156 billion (£1 billion) has been pledged by the UK Government over the next 10 years for investment in research a
    Read More
  • Road user subscriptions will fund the road ecosystems of the future says ERF Lab
    December 14, 2018
    The highway of the future will not be a physical asset created and maintained by the construction industry … it will increasingly be seen as part of an emerging global services sector. “Every day we hear about Mobility as a Service (MaaS), but what about Roads as a Service?” says Christophe Nicodème, general director of the European Union Road Federation (ERF). “The role of the road is changing. We need to think much more carefully about planning (highway) infrastructure in terms of people’s needs. We must
    Read More

Highlighted Content