Enterprise Holdings signed a global affiliation agreement with China-based eHi Auto Services for a 15% stake, marking the car rental company’s entry into China. The investment will provide Enterprise representation on eHi’s board of directors.
The agreement will also give Enterprise Holdings’ customers access to eHi’s services when their business or leisure travel needs takes them to China — including the biggest cities Beijing, Shanghai, Guangzhou and Shenzhen.
Additionally, Enterprise Holdings’ portfolio of brands, including at the Los Angeles, San Francisco and Vancouver international airports initially, will be available for eHi customers.
“At eHi, we continue focusing on meeting customer needs by delivering convenience and reliable service,” said eHi CEO Ray Zhang. “We are excited that Enterprise Holdings has chosen to invest in our future growth, and this investment partnership is a further endorsement of our credibility as a leading car rental operator in China.”
eHi operated a fleet of more than 7,600 vehicles and served both individual and corporate customers from 383 locations in 48 cities across China at the end of 2011.
Currently, Enterprise Holdings operates National Car Rental, Alamo Rent A Car throughout North America and its flagship brand, Enterprise Rent-A-Car, expands to the UK, Germany and Ireland
“We are excited to invest and partner with a market leader in China like eHi,” said Enterprise Holdings Vice President and Chief Strategy Officer Greg Stubblefield. “Under this agreement, not only are our customers assured of a high level of service when traveling in China, but eHi’s customers also will be introduced to our award-winning and friendly service globally.”
The project will create 3,000 new jobs and more than $75 million in capital investment.