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

  • Export intention for Lonking
    January 6, 2017
    Lonking plans to ramp up export levels – Mike Woof reports For Lonking, wheeled loaders form a major part of the firm’s business, although the company now has a well-diversified range. Product development has been important for the company and the third generation wheeled loaders are now coming to market. These new models feature new engines, while the firm is also introducing its second generation excavators and third generation forklift trucks. The third generation wheeled loaders will be available with e
    Read More
  • Export intention for Lonking
    November 26, 2012
    Lonking plans to ramp up export levels – Mike Woof reports For Lonking, wheeled loaders form a major part of the firm’s business, although the company now has a well-diversified range. Product development has been important for the company and the third generation wheeled loaders are now coming to market. These new models feature new engines, while the firm is also introducing its second generation excavators and third generation forklift trucks. The third generation wheeled loaders will be available with e
    Read More
  • FAYAT completes Mecalac deal
    June 11, 2025
    FAYAT has complete its Mecalac deal.
    Read More
  • Construction sector's quiet revolution for digital worksites
    February 8, 2017
    The digital worksite topped the agenda at this year’s CECE congress. David Arminas reports from the Czech capital Prague* Europe’s equipment manufacturers and their clients are truly in an age of transformation driven by an increasing move towards the digital worksite. Because this transformation is so deep, there looms big challenges for the entire sector and its supply chain, noted Bernd Holz, president of the CECE – Committee for European Construction Equipment, Europe’s umbrella organisation for
    Read More

Highlighted Content