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.
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Posted inWith Chinese Characteristics
Luckin might have its app removed from app stores
China’s regulators have been cracking down on companies like that violate personal privacy and over-collect consumers’ personal data.
Posted inOn the Cusp
Luckin offers $6.7 million in assets as lease collateral, signaling money woes
Luckin is under financial pressures as the startup coffee chain is showing signs of overheating.
Posted inWith Chinese Characteristics
Briefing: Luckin Coffee to add 2,500 shops and more subsidies in 2019
Luckin’s announcement comes amid its escalating battle with Starbuck for China’s caffeinated drink lovers.
