GM has invested in China’s Yi Wei Xing, a car sharing tech platform provider that’s responsible for Feezu, a timeshare rental car service similar to Zipcar, as well as providing the backend for rental companies looking to provide their own car sharing service.
GM’s equity investment in Yi Wei Xing is a strategic one, which could help the carmaker eventually expand its own Maven car-sharing brand to China down the road. GM mentions Maven specifically in a press release revealing the news, and notes that taking a stake in Yi Wei Xing will help the U.S-based automaker gain insights into the specific car-sharing needs of the Chinese market.
In a previous interview with Maven COO Dan Grossman, the executive told me that GM was definitely looking at international markets for potential expansion targets. Automakers have typically partnered with local carmakers in China to offer their vehicles for individual sale in the country, so it would make sense for them to follow the same course in order to explore the possibility of service expansions there, too.