- eHi Car Services Limited (NYSE:EHIC) and Volkswagen (DE:VOWG_p) Group China signed a Memorandum of Understanding to jointly explore luxury mobility-on-demand services in China.
- Both parties will leverage innovative technologies, rapidly developing mobile Internet and car connectivity to provide luxury mobile services to Chinese consumers.
- To address the huge market potential, a strategic partnership will be formed which combines the strengths of Volkswagen (OTCPK:VLKAY) – a leading automaker with Audi, Porsche (OTCPK:POAHF) and Bentley luxury brands, a comprehensive range of exciting car models for every mobility need and long-established popularity in China, and eHi's mobility services leadership in China.
- Mr. Ray Zhang, eHi's Chairman and Chief Executive Officer, said, "China is facing a historic opportunity from consumption upgrade and economic transformation. At the same time, new mobility services are an essential part of the sharing economy, which is becoming more popular for hundreds of millions of Chinese consumers. We believe this cooperation with Volkswagen Group China will add an important new level to mobility services and support the ongoing development of China's mobility services sector."
- Shares are +4.30% premarket to $9.95.
- Now read: Volkswagen Is Too Cheap To Ignore
Original article