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

  • China gears up for its giant CICEE construction equipment show at the Changsha exhibition centre in May 2023
    January 19, 2022
    China has announced that its CICEE International Construction Machinery Exhibition will be held from May 12-15, 2023 in Changsha, and forward bookings are looking very strong.
    Read More
  • Wacker Neuson’s new factory in China
    June 22, 2016
    Wacker Neuson has plans to open a new factory facility in China. The plant will be located in Pinghu, around 30km from Shanghai. It will be used initially to produce compact excavators for the local Chinese market. However the plans call for additional products to be manufactured as the operation gears up. It is expected that the first Chinese-made compact excavator will be built in early 2018. The move is important as it will allow Wacker Neuson to boost its production capabilities in Asia. The new pla
    Read More
  • Dana deal done with Oerlikon
    March 1, 2019
    Dana Incorporated (has completed the acquisition of the Drive Systems segment of the Oerlikon Group. This deal includes the Graziano and Fairfield brands and expands Dana’s capabilities in electrification as well as its manufacturing presence in key growth markets.
    Read More
  • Democratisation of technology: an interview with Ivan Di Federico
    June 20, 2025
    A very different global future is emerging where a successful business must have a large amount of the right data and access to the best technology. But for long-term success a business must create value for its customers, says Ivan Di Federico, formerly chief strategy officer and now president and chief executive officer of Topcon Positioning Systems. He talks to Anthony Oliver, host of the Infrastructure podcast.
    Read More

Highlighted Content