Lulu Yilun Chen

Business, Technology, Equipment, Autonomous

Driverless Truck Startup Plus Seeks SPAC Merger

Plus Plus trucks. (Plus)

Self-driving truck startup Plus is in advanced talks with a few special purpose acquisition companies for a merger, as it seeks to bankroll its expansion in the autonomous driving industry, according to people familiar with the matter.

Lulu Yilun Chen | Bloomberg News
March 8, 2021
Business, Technology, Logistics

SoftBank-Led Round Values Uber-Like Truck Startup at $12 Billion

China's Full Truck Alliance has raised $1.7 billion from investors ahead of a potential IPO. Akos Stiller/Bloomberg News

Full Truck Alliance has raised $1.7 billion from investors including SoftBank Group Corp. and Tencent Holdings Ltd., a major cash infusion for the Uber-like trucking startup ahead of a potential initial public offering.

Lulu Yilun Chen | Bloomberg News
November 24, 2020
Business, Technology, Autonomous

World’s Most Valuable AI Startup Explores Automated Cars, Global Expansion

Artificial Intelligence Qilai Shen/Bloomberg News

SenseTime Group Ltd., the world’s most valuable artificial intelligence startup, plans to sustain growth by expanding globally and diving deeper into arenas from autonomous cars to health care.

Lulu Yilun Chen | Bloomberg News
March 21, 2019
Business, Technology, Equipment, Logistics

China’s Uber for Trucks Is Said to Raise $1.9 Billion in Funding

Getty Images

Full Truck Alliance Group, China’s biggest app for Uber-like truck services, raised $1.9 billion in funding to fuel its expansion, sources familiar with the matter said.

Lulu Yilun Chen | Bloomberg News
April 25, 2018
Business, Technology, Equipment, Autonomous

Tesla-Partner Tencent Plans Its Own Driverless Technology

Anthony Kwan/Bloomberg News

China’s Tencent Holdings has developed its own autonomous driving system, according to people familiar with the matter, becoming the latest technology player to dive into a crowded field that could become a $42 billion industry.

Lulu Yilun Chen | Bloomberg News
November 15, 2017
Business, Technology, Equipment, Logistics

China’s Biggest Uber-for-Trucks Apps in Talks to Merge

Qilai Shen/Bloomberg News

Wang Gang, a backer of Yunmanman and an angel investor in ride-hailing giant Didi Chuxing, is the top candidate to become CEO if the companies merge, officials said, asking not to be identified because the information is private.

Lulu Yilun Chen | Bloomberg News
November 13, 2017
Business, Technology, Logistics

China’s Uber-for-Trucks Apps Trade Barbs as Battle Turns Toxic

Ng Han Guan/AP

Harassing phone calls, spam text messages and police investigations — the fight between China’s Uber-for-trucks apps is getting nasty.

Lulu Yilun Chen | Bloomberg News
October 26, 2017
Business, Technology, Autonomous

Three Wharton Dealmakers Bet Their Future on Trillion-Dollar Chinese Trucking Industry

Qilai Shen/Bloomberg News

In 2001, three Chinese men named Richard enrolled in the University of Pennsylvania’s Wharton School before heading to high-flying careers as bankers and dealmakers. More than 15 years later, they’ve teamed up to stake their future on building an Uber-like service for China's convoluted trucking industry.

Lulu Yilun Chen | Bloomberg News
May 15, 2017
Business, Technology, Autonomous

China’s Uber for Trucking Said to Get $156 Million in Funding

Qilai Shen/Bloomberg News

Truck Alliance Inc., an Uber-type service for trucks in China known as Huochebang, is near an agreement to raise about $156 million, people familiar with the matter said.

Lulu Yilun Chen | Bloomberg News
May 1, 2017
Business, Technology, Autonomous

Uber for Trucking Firm in China Valued at $1 Billion

Justin Chin/Bloomberg News

Truck Alliance Inc., an Uber-type service for trucks known in China as Huochebang, raised about $115 million in a financing round that valued the startup at $1 billion.

Lulu Yilun Chen | Bloomberg News
December 22, 2016

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