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

  • Demand is changing in the bitumen market
    August 22, 2013
    The supply and demand for bitumen around the world is changing; refineries, suppliers and contractors must all make changes too - Kristina Smith reports These are interesting times for those supplying and buying bitumen. Almost every part of the picture is in flux: global demand is shifting dramatically; major suppliers are following demand; refineries are closing down or stopping production of bitumen. “In Europe and globally there is a very big chain of events happening,” said Bernd Schmidt, CEO o
    Read More
  • Chinese manufacturers LiuGong and XCMG in Europe
    October 16, 2012
    Both LiuGong and XCMG are increasing their manufacturing operations, with a focus on Europe - Guy Woodford reports The near 4,000m² site is situated about 35km from Amsterdam and is said to have convenient access to European cities via air, sea and highway. The European headquarters will serve as the Chinese firm’s sales hub, technical support base and spare parts distribution centre for existing and potential customers. “This new office will strengthen our presence as a top construction equipment manufactu
    Read More
  • Compact equipment leads the way to record results for Wacker Neuson
    August 4, 2015
    Light and compact equipment maker Wacker Neuson Group, based in Munich, Germany, reported record revenue and earnings for the first half of 2015. Revenue for the first six months of 2015 increased 14% relative to the same period 2014, reaching €706.4 million, a record high, the company said in a written statement. “Our business grew significantly, despite negative market developments in many countries, especially outside of the US and Europe,” said Cem Peksaglam, chief executive of Wacker Neuson.
    Read More
  • Hydrogen-fuelled engines from Cummins
    March 13, 2025
    Hydrogen-fuelled engines for on-road vehicles will come from Cummins
    Read More

Highlighted Content