Search results for Elecle
Telecommunications & Media
Autonomous driving market grows as shared e-bike big deal collapses
A planned merger in South Korea’s shared electric bicycle market has collapsed, scrapping a deal that could have produced a dominant operator. Socar’s sale of its Elecle e-bike unit to Kakao Mobility, operator of T Bike, was recently called off after final talks. Mobility platforms are also pushing into lifestyle services such as tire discounts and insurance. The article also highlights developments in Tesla, China’s autonomous driving market, Rivian, robotaxis and EV motorsports.
Mobility
Socar-Kakao Mobility e-bike sharing merger talks collapse
A proposed deal between Socar and Kakao Mobility to combine their shared electric bicycle businesses has fallen through, industry sources said. Socar recently scrapped plans to sell its Elecle e-bike unit, which had been in talks with Kakao Mobility, operator of T Bike. The sale had been pursued to reduce operating cost burdens. With the deal off, Socar plans to keep Elecle but cut its operating scale and refocus resources.
Telecommunications & Media
Mobility platforms return to profitability amid intensifying margin battle
South Korea’s three mobility platforms improved profitability last year, led by Socar’s operating profit of 23.2 billion won and TMAP Mobility’s first annual net profit of 23.3 billion won. Kakao Mobility also raised profitability by close to 20 percent. The companies cut or reshuffled non-core operations and expanded data- and AI-based revenue models. Each is now focusing on core strengths, including car sharing, data expansion and physical AI and autonomous driving.