eHi Car Services Forms Strategic Partnership with Yongda Auto
Feb 16, 2017
SHANGHAI, Feb. 16, 2017 /PRNewswire/ -- eHi Car Services Limited ("eHi" or the "Company") (NYSE: EHIC), a leading car rental and car services provider in China, today announced it has entered into a strategic partnership with China Yongda Automobiles Services Holdings Limited (03669.HK, "Yongda Auto"), a leading passenger vehicle retailer and comprehensive services provider in China.
The strategic partnership will enable comprehensive collaboration between eHi and Yongda Auto in multiple areas and formats, including vehicle procurement, used car sales, automobile financing, customer services and network expansion. In particular, eHi and Yongda Auto will explore various channels for used car sales, repurchase programs and outlet marketing, as well as establishing an ecosystem from vehicle procurement, to car services, to used car sales. Combining eHi's nationwide network coverage and strong operational capabilities with Yongda Auto's mature dealership and services, the partnership aims to integrate resources and bring high-quality and diversified services to customers.
"In China, Yongda Auto represents a world-renowned list of luxury auto brands and has a well-established infrastructure spanning vehicle procurement and sales, financing, insurance and used car trade-in. Additionally, their commitment to outstanding customer service aligns well with eHi's core values and corporate culture. We believe our complementary operations and shared commitment to service form synergies that will foster innovation and strengthen our competitive market position," said Mr. Ray Zhang, eHi's Chairman and Chief Executive Officer.
Mr. Yue Xu, President of Yongda Auto, commented, "eHi is a leading car rental and car services provider in China with outstanding brand recognition and a broad service network. As a natural extension of our existing business relationship, we are delighted to form a strategic partnership with eHi. By combining our strength and resources, we look forward to exploring areas like automobile financing and customer services, driving the development of service models and bringing the best-quality services to our customers."
About eHi Car Services Limited
eHi Car Services Limited (NYSE: EHIC) is one of the leading car rental and car services providers in China. eHi's mission is to provide comprehensive mobility solutions as an alternative to car ownership by best utilizing existing resources and sharing economy to create optimal value. eHi distinguishes itself in China's fast-growing car rental and car services market through its complementary business model, customer-centric corporate culture, broad geographic coverage, efficient fleet management, leading brand name, and commitment to technological innovation. eHi is the exclusive strategic partner in China of Enterprise, the largest car rental company in the world, and is the designated and preferred business partner of Ctrip, a leader in the online travel agency industry in China.
About China Yongda Automobiles Services Holdings Limited (03669.HK)
Yongda Auto is a leading passenger vehicle retailer and comprehensive service provider in China, focusing on luxury and ultra-luxury automobile brands, including Bentley, Aston Martin, Porsche, Jaguar Land Rover, BMW, Audi, Lincoln, Volvo, Infiniti, Cadillac and Lexus, with extensive service network across China. By establishing an industry-leading sales services ecosystem and combining online and offline platforms, Yongda Auto is committed to providing customers with a comprehensive range of automobile-related services through its "one-stop shop" approach, which includes pre- and after-sales products and services, automobile rental as well as a wide range of other services including pre-owned vehicles, finance insurance and leasing products, automobile finance and other related services. Yongda Auto has received multiple honors and awards, including "Top 500 Enterprise in China," "China's Renowned Trademark" and "Top 100 Automobile Dealer in China."
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. eHi may also make written or oral forward-looking statements in its reports filed with or furnished to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about eHi's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding the risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is current as of the date of the press release, and eHi does not undertake any obligation to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
eHi Car Services Limited
Tel: +86 (21) 6468-7000 ext. 8742
In the United States:
The Piacente Group, Inc.
Ms. Brandi Piacente
China Yongda Automobiles Services Holdings Limited
Tel: +86 (21) 6302-6789 ext. 749
SOURCE eHi Car Services Limited