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

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