Yestock Car Rental Company Limited announced it has entered into a share subscription agreement with Didi Chuxing, a global one-stop mobile transportation platform.
Under the terms of the agreement, Didi subscribed for shares of Yestock, thereby becoming its important shareholder and strengthening the partnership. According to the mutual agreement, Yestock will provide car rental-purchase or leasing services, and other diversified value-added services, to full-time drivers on the Didi platform.
The two parties will jointly expand the car-hailing and automotive service markets.
Founded in December 2005, Yestock is an integrated car services provider with its headquarters located in Shenzhen, Hong Kong. It primarily offers leasing services with a purchase option and a long-term rental service to customers with coverage over the economic cycle of vehicles, with special expertise in used-vehicles management.
After years of development, Yestock has expanded to a fleet of more than 20,000 cars and over 1,000 employees. Based in Shenzhen, the company has also successively set up over 200 sales locations in around 160 cities nationwide and nearly 30 large-scale car depots, with its businesses spanning the entire country.
Didi offers a full range of app-based transportation options for over 450 million users, including Taxi, Express, Premier, Luxe, Hitch, Bus, Minibus, Designated Driving, Car Rental, Enterprise Solutions, and Bike-Sharing.