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mobility china wuhan covid-19 luckin coffee car inc saic ride-hailing
Posted inHeavy Hitters

China’s SAIC to take over Luckin founder’s car business

by Jill Shen Jul 3, 2020Jul 3, 2020

If the deal proceeds, Luckin founder Charles Lu and his family will receive up to HK$1.37 billion, likely to be put toward the company’s cash crunch.

Posted inHeavy Hitters

Car Inc may soon exit the Charles Lu family

by Jill Shen Jun 1, 2020Jun 1, 2020

China’s Beijing Automotive Group (BAIC) is seeking to buy a stake of up to 21.26% in Car Inc, a Hong Kong-listed car rental company formed by Luckin Coffee chairman Charles Lu.

Posted inHeavy Hitters

Luckin launches limited-edition cup to replicate Starbuck’s cat paw mug craze

by Emma Lee Aug 19, 2019Mar 17, 2020

This is the first time Luckin has sold branded merchandise as it evolves its marketing and branding strategy.

community group-buy group-buying
Posted inWith Chinese Characteristics

Community group-buy firms fined, women boost consumption: Retailheads

by Emma Lee Mar 10, 2021Jun 28, 2021

China fined five community group-buy platforms for price dumping, the “she economy” is on the rise as modern Chinese women power growth.

Digital yuan app CBDC, DCEP
Posted inHeavy Hitters

UPDATED: We got some digital yuan!

by Eliza Gkritsi and Shi Jiayi Dec 11, 2020Jan 19, 2021

Suzhou lottery winners can spend their RMB 200 of the digital yuan at JD.com, Didi, Meituan, or Bilibili—or pay their Party dues.

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  • China drafts national guidelines for commercial driverless robotaxis Aug 9, 2022
  • Oppo and OnePlus halt sales in Germany after losing Nokia lawsuit Aug 9, 2022
  • China’s passenger EV sales to reach 6 million units in 2022: industry group Aug 9, 2022
  • Auto chipmaker Black Sesame completes series C+, takes funding to $500 million Aug 9, 2022
  • India to limit Chinese firms from selling low-end phones Aug 9, 2022
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