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Taxi firms merge
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Hangzhou Taxi Group Ltd was founded in late August through a merger of eight companies. The merged company has a fleet of more than 2,000 taxis. The move is aimed at offsetting competition fueled by taxi-hailing apps.
The new company with a registered capital of 100 million yuan operates a fifth of the city’s cabs and is now the largest taxi company in Hangzhou.
“Hangzhou Taxi Group plans to enlarge its fleet to 3,000 cars in two years and share the same dispatching platform with 10,090 taxis in the city,” General Manager Dai Jinming said.
The group plans to introduce its own taxi hailing app this month, which is expected to make taxi booking as easy and fast as Uber.
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