GM Buys Stake in China Car-Share Service

General Motors Co. has made an undisclosed investment in Yi Wei Xing (Beijing) Technology Co., a Chinese company with a smartphone app that enables customers to rent cars by the minute, hour or day.

GM, noting that requirements for car-sharing services vary by market, says Wei Xing offers innovations that could lead to more efficient and personalized mobility options for consumers in China.

The investment is GM’s most recent effort to explore the ride-share market. Earlier this year the company invested $500 million in ride-hailing service Lyft Inc., launched Maven, a car-sharing service in the U.S. and bought the technology and most assets of San Francisco ride-hailing startup Sidecar Technologies Inc.