Automotive Aftermarket

The company has designs to become the largest auto trading platform in Southeast Asia, said the CEO.

Mancando manages a network of franchises and auto parts brands such as Shimo, Zhiding, and Madun.

He set out to establish the region’s largest automotive marketplace and revolutionized how cars are bought and sold there.

An icon in China’s entrepreneurship circles, Li now wants to stake his claim in the electric vehicle industry.

Carsome started off as a car comparison website in helping people with car purchasing. Eventually, the business switched to focusing on helping people sell cars.

The new app is a software-as-a-service (SaaS) platform designed for car dealers, but is yet to be “officially released”.

The company’s share price reached a record high, and its market value surpassed it’s rival SAIC.

The fundraising round comes at a time when the Chinese government is pushing to build new digital infrastructure.