BEIJING, May 12 (TMTPOST)— Hong Kong-based on-demand logistic company Lalamove, also known as Huolala kicked off a project to build its own car and began to recruit talent for making new energy trucks and vans, including specialists for developing customerized new energy vehicles (NEVs), Chinese technology news portal 36Kr cited people familiar with the matter on Wednesday.
Chinese media reported in January that Lalamove could launch its initial public offering (IPO) in the second half of 2021 and was close to complete its pre-IPO funding of US$1.5 billion, with the aim to boost firepower for competition in citywide delivery. However, the company later said it has no plan about IPO currently.