AutoBeta(AutoBeta.net)05/22 Report--

Zhejiang Geely Group and Daimler Group signed a cooperation agreement in Hangzhou, Zhejiang Province on May 21 to establish high-end travel service company Weixing Technology, following Geely's 9.7% stake in Daimler and taking over the mini-vehicle smart business in March. Geely and Daimler's second cooperation.

The new company Weixing Technology, which will be jointly owned by Geely's subsidiaries, Geely Technology Group and Daimler Mobile Services, will focus on high-end mobile travel services. The new company was officially established on May 9. The legal representative of the company is Liu Jinliang, president of Geely Group Co., Ltd. And chairman of Cao Cao Travel, headquartered in Hangzhou.

According to public data, the registered capital of Weixing Technology is 1.7 billion yuan (RMB), and both shareholders contribute 850 million yuan each, each accounting for 50% of the equity. The company's business scope includes: car rental, network taxi booking, technology development, technical services, technical consultation, results transfer, general freight, road passenger transport.

Weixing's fleet will use Daimler's high-end models-Mercedes-Benz S-Class luxury models, E-Class executive models, and V-Class multi-purpose models. Geely high-end pure electric models will be used in the future.

Prior to this, both sides have relevant experience in the field of travel services. Geely established Cao Cao chauffeured car (now renamed Cao Cao Travel) as early as 2015. By 2019, Cao Cao Travel has been put into operation in 35 large, medium and small cities across the country, with as many as 39000 vehicles, 24.3 million registered users and nearly 1 million daily active users.

Daimler has three car-sharing businesses, car2go, moovel and mytaxi, in Europe, while moovelGroup has 5 million regular users, while in the domestic market, Daimler provides free-flow car-sharing services to 470000 users in China. And accumulated more than 20 million kilometers.

Liu Jinyu said that the new enterprise will not compete with Cao Cao travel, Cao Cao travel will focus on economy and green travel, while the joint venture Weixing will focus on high-end travel.

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