US EUROPE AFRICA ASIA 中文
    Business / Technology

    Alibaba links with UCAR for more car-hailing business

    By Gao Yuan (China Daily) Updated: 2016-04-12 08:17

    Alibaba links with UCAR for more car-hailing business

    A fleet of cars of UCAR Technology Inc, China's third-largest car-hailing company, is being prepared for a wedding in Beijing.[Provided to China Daily]

    Deal with UCAR comes as the online ride-booking market is growing rapidly

    Alibaba Group Holding Ltd on Monday reached a strategic partnership with China's third-largest car-hailing company UCAR Technology Inc, a move that enhanced the influence of the internet giant in the booming segment.

    The partnership will include online shopping, digital marketing, high-accuracy navigation and the development of smart vehicles, according to a joint-announcement from the two companies.

    Alibaba also underlined it will not hold stakes of UCAR, an on-demand chauffeur service provider backed by the nation's biggest auto rental firm CAR Inc. The market has been expecting an Alibaba investment in UCAR since last year. Multiple media reports stated the investment could be worth more than 3 billion yuan ($460 million).

    Charles Lu, chairman and CEO of CAR and the actual controller of UCAR, said in March he "has no plan" to raise investment before its initial public offering scheduled for later this year.

    In late March, a financial leasing company of China Everbright Group provided a 20-billion-yuan line of credit of 20 billion yuan to UCAR for fleet expansion.

    UCAR is aiming to be listed on a NASDAQ-style board for Chinese tech startups, Lu said.

    Stocks of CAR, in which UCAR was the largest shareholder, jumped nearly 2 percent on Monday in Hong Kong, closing at HK$9.04 ($1.17).

    Zhang Xu, a researcher from Beijing-based consultancy Analysys International, said UCAR is better positioned in the IPO competition comparing with Tencent Holdings Ltd-backed Didi Dache and Uber China, the Chinese subsidiary of Uber Technologies Inc, based in the United States.

    "Didi is working on building its businesses in major cities by launching more diversified services, while Uber could not make profit out of China at the moment," said Zhang.

    Alibaba has been eyeing a presence in China's online car-hailing market, where Tencent, Baidu Inc and LeEco Holdings Ltd all have claimed territories earlier on. UCAR is the only key player that is independent to internet majors including Tencent and Baidu.

    Although Alibaba is also working with Didi, the Hangzhou-based company could not kick Tencent influence out of the board.

    The growth for China's online car booking market is on the fast track. Due to rapid-growing demand for chauffeur services, turnovers in China's car-hailing market is set to hit 500 billion yuan by 2020, representing a year-on-year increase of 129 percent from 2015 to 2020, according to Roland Berger, a consulting firm.

    Didi, Uber and UCAR were among the biggest booking platforms. Around 84 percent of users booked chauffeur services on Didi at the end of last year while 17.4 percent used Uber, according to Analysys International. UCAR was slightly behind, covering about 15 percent of the users.

    The total percentage exceeds 100 percent because some passengers used more than one applications, said the firm.?

    Hot Topics

    Editor's Picks
    ...
    亚洲永久无码3D动漫一区| 99久久人妻无码精品系列蜜桃| 成人无码小视频在线观看| 中文字幕日韩一区二区三区不卡| 亚洲不卡无码av中文字幕| 99久久人妻无码精品系列| 人妻系列AV无码专区| 无码人妻视频一区二区三区| 午夜福利无码不卡在线观看| 中文字幕免费在线| 精品久久久久久无码人妻热| 人妻无码αv中文字幕久久琪琪布| 亚洲精品无码久久久久去q| 亚洲av无码一区二区三区四区| 中文字幕视频免费| 天堂亚洲国产中文在线| 日韩精品无码中文字幕一区二区| 国产精品无码v在线观看| 亚洲AV综合色区无码另类小说| av中文字幕在线| 国产色综合久久无码有码| 中文人妻av高清一区二区| 亚洲精品无码久久久影院相关影片| 国产亚洲美日韩AV中文字幕无码成人| 国产成人无码精品久久久免费 | 亚洲成a人无码av波多野按摩 | 韩国三级中文字幕hd久久精品 | 亚洲?V无码乱码国产精品| 无码人妻精品一区二| 久久久久亚洲AV无码专区体验| 亚洲精品成人无码中文毛片不卡 | 久久午夜无码鲁丝片午夜精品 | 无码人妻少妇久久中文字幕| 国产AV无码专区亚洲AV毛网站| 亚洲欧美中文字幕高清在线| 成人无码小视频在线观看| AV成人午夜无码一区二区| 4hu亚洲人成人无码网www电影首页| 无码AV片在线观看免费| AV大片在线无码永久免费| 九九久久精品无码专区|