SoftBank’s Vision Fund In FORETELLS Invest $1.5 Billion In Chinese Used Car Platform

SoftBank's Vision Fund In FORETELLS Invest $1.5 Billion In Chinese Used Car Platform 1

100 billion investment funds as it looks to broaden in the world’s No.2 overall economy, and would come after it invested 460 million euros in German car or truck dealing platform Auto. 8.5 billion before the investment, according to one of the sources, who had direct knowledge of the situation. The two resources, who weren’t authorized to speak to media, also said the Vision Fund had before few months kept talks with Guazi’s direct rival, Renrenche, which is supported by Chinese ride-mailing firm Didi Chuxing. Guard, a consumer-to-consumer car or truck trading system founded in 2014, is backed by Chinese internet large Tencent and Sequoia Capital China.

Its discussions with Softbank were first reported by the Financial Times past due on Friday. The Vision Fund and Renrenche declined to comment. Guard didn’t respond to a request for comment. Japan’s Softbank was not immediately available for comment. 93 billion in 2017 has previously made investments in firms such as ride-hailing company Uber Technologies Inc and shared-office space firm we work. Used sales rose 11.from the 12 months before to 13 5 percent in 2018.82 million vehicles. 127.61 billion), based on the China Automobile Dealers Association.

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