Fast and car rental companies will offer limousine service

SAN FRANCISCO, July 7 Beijing Time Evening News, Alibaba's investment in Albania is soon to be offered limousine services in China to boost revenues and challenge Uber US taxi applications.

Fast CEO Lv Chuanwei said he will soon launch a new smart phone application in cooperation with car rental companies in Beijing, Shanghai, Guangzhou and Hangzhou to target wealthy travelers. The new cars will include the BMW 5 Series and the Audi A6.

Uber and Fast are also faced with the beeping taxi competition, which won the Tencent investment. At present, China has 500 million users accessing the Internet through their mobile phones and increasingly using location-based services. This new application is fast called "No. 1 car." Lu Chuanwei said he will explore new revenue models through this application to support business development.

Lv Chuanwei said on July 4: "We adopted a model similar to Uber's China business, and we are exasperated in our work in the second half of the year."

Uber valued at more than $ 17 billion in the latest round of financing, and the company is now exploring the China market and hiring in 14 cities.

Fast taxi applications have attracted 100 million users, the user daily orders for about 3000000. In addition, Fast has established partnerships with more than 1 million drivers in nearly 300 cities.

Lv Chuanwei said he will work with a car rental company to provide services to five-star hotels and will charge 20% to 25% of each travel expenses as a commission. Other cars in this luxury car service also include the Buick GL8. However, Lu Chuanwei declined to say how many cities in the near future will provide this new service.

Lv Chuan-wei also said this time, will soon seek IPO (initial public offering), rather than being wholly-owned acquisition. Alibaba currently holds fast shares, but the exact shareholding ratio is unknown. Tencent invested in Didi taxi in January this year, when Didi hit a car to complete a total of 100 million US dollars in financing.

At present, China's taxi application is facing regulatory uncertainty. Lv Chuanwei said that at present, Kuwait and regulators to maintain cooperation. (Peacekeeping gold)