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