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After operating in the Chinese city of Chongqing for two months, Daimler’s car2go service already has more than 78,000 registered users.
Read More →Car rental companies and investors have noticed a gap between the number of licensed drivers and privately owned cars, which could result in a high demand for rental cars.
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German carmaker Daimler has launched its car2go carsharing service in China’s Chongquing municipality with 400 smart fortwo vehicles.
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Hertz Global Holdings has reached an agreement to substantially reduce its equity position in China Auto Rental (CAR Inc.), China's largest rental car company, while at the same time extending its existing commercial agreement between the two companies to 2023.
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In the next five years, China business travel will increase by 61% (from $261 billion in 2014 to $420 billion in 2019). Asia Pacific owns the largest share of the business travel spend market with 39%, followed by North America with 27%.
Read More →Tiger Global Management LLC and SRS Investment Management LLC, two New York hedge funds, plan to invest $150 million in shares in eHi Car Services, a car rental and chauffeuring company based in China.
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Shanghai-based eHi Car Services will serve as an official vehicle services provider for China’s central government agencies and subordinate units for 2015.
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The Ministry of Transport in China is now allowing car rental companies to offer chauffeur services through their online platforms.
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Car2go will be launching its car-sharing service in the Chinese city of Chongqing within a year. This pilot program will bring several hundred of its smart fortwo vehicles.
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Business travel spending in China is expected to expand 15.9% in 2014 to $262 billion and increase another 18% in 2015, according to the latest semi-annual “GBTA BTI Outlook – China” report.
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