GM ventures into China car-sharing with investment in app developer

By Jake Spring BEIJING (Reuters) – U.S. automaker General Motors Co made its first investment in a Chinese car-sharing start up, the company said on Tuesday, as its attempt to reshape itself as a mobility solutions company spreads around the globe. A GM spokeswoman declined to disclose the size of the investment in Yi Wei Xing (Beijing) Technology Co Ltd, which developed Feezu, a car rental and car-sharing app. "This cooperation is very important to our company to explore ride-sharing market in China," the spokeswoman said in an email to Reuters.

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