Linghangyuan Technology rents out cars by the hour and provides customized technical services and operational solutions targeting business customers and leisure travelers.
The value of the deal, which is expected to close in the first quarter of 2019, was not disclosed.
Not that expanding geographically is all the company has in mind. Outdoorsy is evolving into a recreational marketplace, one with more premium services including insurance and roadside assistance.
CR estimates more than 400 million passengers will travel on its trains over a 40-day peak period between January and March this year.
China had more than 131,000 kilometers of rail tracks in operation as of the end of 2018, with high-speed railroads making up around 22%.
Paperless train travel currently being trialed in Hainan is going to be expanded across the country.
Both parties will jointly innovate and cooperate on car travel, membership services, financial insurance, blockchain technologies and other fields.
Since late August, Google was reportedly in talks to acquire the company for $30-40 million.
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