eHi Auto Services Receives $100 Million Investment

eHi Auto Services, a Shanghai-based car rental company in China, has received an investment of over $100 million from Ctrip.com International Ltd. (CTRP), an online travel agency in China, and existing investors. Ctrip will become the second largest strategic partner after Enterprise Holdings, which invested in eHi in 2012.

"We are glad that Ctrip, the largest OTA in China, has become our strategic investor and partner through this equity investment," said Ray Zhang, CEO and founder of eHi Auto Services, China. "There will be many areas eHi and Ctrip may work together on to provide better travel products for Chinese consumer and corporate customers. We are excited this is a comprehensive partnership that will be mutually beneficial for both companies in a fast-growing travel industry in China. ..."

According to PhoCusWright's market research, China passed Japan as Asia's largest travel market in 2012 at $96.2 billion, with car rental growing the fastest of all segments. This trend is expected to continue as car rental catches on with an emerging group of young travelers.

eHi’s services span across 80 cities and more than 400 service outlets — with a fleet size that exceeds 13,000 vehicles and 100 different vehicle types, according to the company.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Autonomous Vehicles and the Changing Role of the Fleet Manager

With fewer drivers and substantially longer fleet lifecycles, fleet managers will pivot to new job functions.

2017: Fleet Mix Will Be Paramount

Car rental companies are migrating to vehicle segments with better residual values, though not without bumps in the road.

Auto Rental Summit: Five Trend Lines

Taking in the seminars, discussions, and networking at the 2016 Auto Rental Summit, trend lines emerged around shifts in model mix, data protection issues, increasing labor costs, workforce engagement, and new platforms to rent cars.

Job Finder: Access Top Talent. Fill Key Positions.