YongChe.com: Yidao secures new investor to replace LeEco, source says

Yidao Yongche, the premium Chinese ride-sharing company which has been troubled with financial woes over the past months, has gained "a new lease of life" after a well-funded investor has stepped in to replace cash-strapped LeEco as the controlling shareholder, said a source close to the deal. The source, who declined to name the new investor, told the South China Morning Post that LeEco, which invested US$700 million for a 70 per cent stake in Yidao in 2015, has sold out most of...