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Merged app developer and taxi firm to expand overseas, rent cars
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SHANGHAI Dahuangfeng Technology Co and Hangzhou Kuaidi Taxi Co said they're eyeing overseas market expansion after their merger late last month.
Kuaidi Taxi CEO Lu Chuanwei told a media briefing yesterday that the merged company has started operations in Hong Kong and will expand to a number of other Asian cities outside China’s mainland early next year.
Alibaba Group, the investor in the first round of financing for Kuaidi Taxi, had said it will pour another US$100 million into the company and provide additional support to boost its market position.
The two companies also started to offer short-term rental car service in collaboration with car rental companies in Shanghai.
Sam Li, co-founder of Dahuangfeng Technology — a developer of an app allowing hailing of a cab from a smartphone — said short-term rental cars will offer more options for urban travelers and for occasions such as family trips.
"We saw a huge demand for city transportation that can't be covered by public transportation or taxis and we'll offer more options and transportation means in the future," he said.
Both Dahuangfeng and Kuaidi will employ its user network to help car rental companies make better use of resources and better meet individual riders' demands as these car rental companies normally only serve corporate customers and charge on a daily basis.
Competition is heating up among dozens of smartphone applications that allow riders to book taxi rides, offering convenience to the public as well as helping fill taxis.
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