Chinese electric vehicle-sharing platforms Caocao Zhuanche and EvCard, backed by powerful Chinese carmakers, plan to seek external funding totaling almost $730 million to fuel their growth.

The moves come as Beijing continues its push into the new energy vehicle sector as part of efforts to cut pollution and boost cutting-edge technology.

Caocao Zhuanche is aiming to raise up to $435 million in a new funding round, at a valuation of about $3 billion.

EvCard is also considering raising some $292 million from external investors.