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

  • Dressta’s new dozers part of ambitious growth vision
    May 13, 2015
    Earthmoving equipment manufacturer Dressta is launching the first of three new hydraulic crawler dozers later this year, and has ambitious growth plans funded by parent company LiuGong, the Chinese construction equipment manufacturing giant. Guy Woodford reports Dressta’s trio of new hydraulic crawler dozers represent exciting additions to the dozer market and are the first results of parent company LiuGong’s significant R&D investment in the Polish firm, which it bought in 2012. Being launched in Q
    Read More
  • Investing in compaction machine innovation
    March 14, 2012
    The Wirtgen Group is developing its manufacturing facilities outside of Germany. The company has extensive operations in Brazil and China and has now opened a new plant in India, which has started production already. Joint president Stefan Wirtgen said, “The first machine we made was a Hamm compactor. It is specially developed for the Indian market.”
    Read More
  • Investing in compaction machine innovation
    April 13, 2012
    The Wirtgen Group is developing its manufacturing facilities outside of Germany. The company has extensive operations in Brazil and China and has now opened a new plant in India, which has started production already. Joint president Stefan Wirtgen said, “The first machine we made was a Hamm compactor. It is specially developed for the Indian market.”
    Read More
  • China looking to export construction machines
    March 16, 2012
    Chinese firms are looking to develop overseas sales but are using very different strategies – Mike Woof reports. Aggressive expansion plans will see Chinese manufacturers boosting overseas sales in coming years. These companies are developing bigger sales profiles around the world, particularly in emergent markets such as Africa, the Middle East and Latin America. It is worth noting too that Chinese products continue to gain in terms of quality and performance. For LiuGong, Sany, Shantui, XCMG and Zoomlion
    Read More

Highlighted Content