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Auto dealer, cab companies enter car-hailing sector in China

10/14/2016| 2:34:31 PM| ChinaTravelNews 中文

Auto dealer’s car-hailing platform Dingding raised RMB 5 billion in a strategic tie-up with Everbright Bank’s financial leasing unit to enter the chauffeur market in China.

Dingding Car-hailing, a ride-sharing platform established by car dealer PangDa, teamed up with Everbright Financial Leasing in a strategic agreement on October 12. The financial leasing company will put RMB 5 billion into Dingding to support the car-hailer’s development. 

Dingding is not the only new entrant in the sector amid the release of car-hailing draft regulations. Dazhong Taxi’s car-hailing unit announced on October 11 that the Shanghai-based cab company has connected more than 10,000 taxis on its platform and 70% of the company’s self-managed fleet are available on the platform. (Translated by Jerry)

TAGS: Dingding | Everbright | car-hailing | China
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