UCAR looks to take on Didi with inclusive car services
Beijing-based UCAR Inc is setting up a comprehensive car service platform as part of a strategic upgrade, hoping to better compete with other market leaders such as Didi Chuxing.
The upgrade includes the integration of its existing products such as car purchases, car leasing, car rentals and limousine cars and also the merger of its online and offline services.
"Changes in consumption and improvement of technologies are helping the company to forge a complete vehicle ecosystem, that will offer integrated services to car owners and provide access to people without cars," said Lu Zhengyao, chairman and CEO of UCAR.
Industry experts said the traditional car-rental company is branching out its services in more directions to cater to the diversified demands of users and gather more resources.
UCAR currently operates four main product lines: Car Inc, its Hong Kong-listed car rental arm, Shenzhou Zhuanche, chauffeured car services, as well as an online car marketplace and a car loan service.
Zhang said that UCAR's transformation is in accordance with Didi as Didi is making available facilities like car rentals, and new energy vehicles as well as second-hand cars.
As of now, UCAR's car-rental arm Car Inc has gathered over 100,000 vehicles in more than 300 cities across China. Car Inc reported that its revenue rose 22 percent year-on-year to 3.61 billion yuan (USD 546 million) in the first half of this year.
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