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Chinese automotive companies FAW Group, Dongfeng Automobile and Chongqing Changan Automobile have extended their strategic partnership agreement, signed in December 2017, by setting up a new platform for ride-sharing operating in China.
Changan Automobile wrote on its account in the Chinese Social Media platform, Wechat, that the three major car companies will be joining forces to enter the shared travel market, which provides an opportunity to transform their traditional business model.
The new platform will be called T3 Mobile Travel Services. The newly formed enterprise would also look to partner with companies from other industries and leverage their expertise to make the platform better and more customer friendly. This venture will also explore development of autonomous technologies to make the platform more safe and efficient for the customers.
The new venture will be all set to compete with Didi Chuxing, the market leader in the car-sharing business in China. Didi has Japanese giant, Softbank Group as one of its major investors.
Dongfeng, FAW and Changan team up to start ride-sharing services
Modified on Tuesday 17th July 2018
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Dongfeng, FAW and Changan team up to start ride-sharing services
