SoftBank-Backed Used-Car Startup Carro Drives Into Hong Kong With Acquisition

Carro, a Singapore-based online used-car marketplace, has expanded into Hong Kong with the acquisition of a local smaller peer to bet on the city’s growing electric vehicle adoption.

Carro announced its purchase of Beyond Cars at an undisclosed price last week. The acquisition would boost Carro’s presence to a total seven markets in Asia: Singapore, Malaysia, Indonesia, Thailand, Japan, Taiwan and now Hong Kong.

“The high…