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.
Search results
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.