Electric vehicle

DSTcar gets $70m funding for EV push

China’s electric vehicle market is getting increasingly sophisticated as the number of EV-focused service providers grow. DSTcar is one of them.

Dishangtie Car Rental, a Shenzhen-based commercial electric vehicle rental service, said on Monday that it had raised another $70 million in series B3 funding, offering further evidence that China’s EV market may be maturing after a period of super-charged growth. 

Dishangtie, commonly known as DSTcar, said the latest funding round was led by Hong Kong-based venture capital fund Jeneration Capital Management. Chinese financial services provider Far East Horizon and European private equity firm Idinvest Partners were among the co-investors.

Monday’s fundraising is the third phase of the firm's $100 million series B funding round, which involved earlier commitments from Japanese conglomerate Itochu Corporation and...

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