BEIJING and SHANGHAI, Sept. 29,
2017 /PRNewswire/ -- Volkswagen Group China and eHi Car
Services Limited ("eHi" or the "Company") (NYSE: EHIC), a leading
car rentals and car services provider in China, have 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. Entirely new on-demand services will satisfy
diverse needs, and make luxury mobility more comfortable and more
convenient.
Currently, popularization of mobile devices and Internet
connectivity enable rapid innovations in China's mobility services market. Consumption
upgrading and increasing business travel require more quality and
customized luxury mobility solutions.
To address the huge market potential, a strategic partnership
will be formed which combines the strengths of Volkswagen – a
leading automaker with Audi, Porsche and Bentley luxury brands, a
comprehensive range of exciting car models for every mobility need
and long-established popularity in China, and the New York Stock Exchange-listed
eHi's mobility services leadership in China, where it operates about 60,000 vehicles
from more than 4,000 directly managed service locations in more
than 250 cities.
Prof. Dr. Jochem Heizmann, Member
of the Board of Management of Volkswagen Aktiengesellschaft as well
as President and CEO of Volkswagen Group China, said, "Volkswagen
Group China understands the various needs for new mobility and sees
clearly the trend of the transportation-on-demand business. This is
the latest example of our strategy to work with outstanding Chinese
companies to develop innovative concepts that can advance new
mobility-on-demand services in China and provide well-matched mobility
services solutions to customers."
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."
About eHi Car Services Limited
eHi Car Services Limited (NYSE: EHIC) is a leading car rental
and car services providers in China. The Company's mission is to provide
comprehensive mobility solutions as an alternative to car ownership
by best utilizing existing resources and sharing economy to create
optimal value. eHi distinguishes itself in China's fast-growing car rental and car
services market through its complementary business model,
customer-centric corporate culture, broad geographic coverage,
efficient fleet management, leading brand name, and commitment to
technological innovation. eHi is the exclusive strategic partner in
China of Enterprise, the largest
car rental company in the world, and is the designated and
preferred business partner of Ctrip, a leader in the online travel
agency industry in China. For more
information regarding eHi, please visit http://en.1hai.cn.
Safe Harbor Statement
This press release contains certain "forward-looking statements"
within the meaning of federal securities laws. All statements,
other than statements of historical facts, included herein are
"forward-looking statements" including, among other things, eHi's
ability to support the ongoing development
of China's mobility
services sector. The expectations reflected in these
forward-looking statements involve significant assumptions, risks
and uncertainties, and these expectations may prove to be
incorrect. Investors should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. The Company's actual results could differ materially
from those anticipated in these forward-looking statements. Other
than as required under the securities laws, the Company does not
assume a duty to update these forward-looking statements.
Contacts:
eHi Car Services Limited
Tel: +86 (21) 5419-2093
E-Mail: ir@ehic.com.cn
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ehi@tpg-ir.com
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SOURCE eHi Car Services Limited