Business
08:37, 23-Nov-2018
BMW acquires ride-hailing license in China
Updated
08:06, 26-Nov-2018
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German carmaker BMW has obtained a ride-hailing license in Chengdu, capital of southwest China's Sichuan Province, and will launch services in the city from December, local authorities said Thursday.
The company is expected to put 200 BMW 5 Series models, mainly hybrid cars, on the roads at the initial stage. The company will also recruit exclusive drivers, eyeing the high-end market.
China's ride-hailing market has been dominated by Didi Chuxing, which offers services for 550 million users worldwide, but a rising number of car makers are making their way into the market.
In October, Germany's Daimler Mobility Services and China's Geely Group Company, which owns ride-hailing platform Caocao, formed a premium ride-hailing joint venture on a 50-50 ownership split.
Shanghai Automotive Industry Corporation has also backed a ride-hailing company that rolled out trial operations in Shanghai last week.
Wu Chungeng, spokesperson for China's Ministry of Transport, said last month that increasing players in the market was good for competition and would bring consumers more choices.
Source(s): Xinhua News Agency