Ehai gets major investment
From Reuters:
The Chinese company eHi Car Rental said Monday that a consortium led by Goldman Sachs has agreed to make a $70 million investment.
Existing shareholders of eHi Car Rental are also part of the group, including Qiming Venture Partners, CDH Ventures, Ignition Capital, JAFCO Asia and New Access Capital.
The deal is expected to close soon.
Based in Shanghai, eHi Car Rental has a fleet of 4,000 vehicles and operates in 34 cities.
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Ehai rental?…who’s Ehai?
If you want to pick up a rental in Shanghai and drop it off out in Kashgar, don’t even think about it…
Car rental companies like Avis and Hertz had little luck
making inroads in China since their start-ups in 2003 and 2002 respectively. I believe Hertz left in 2005 citing management issues.
Does anyone know if Anji, Angel or Kumho have done any better?
Looks like Goldman Sachs recognizes the void.
I’m very happy with the service AVIS provide,both from long term leasing and short term rental – I have to admit to have being sceptical at first, but they suprised me with the quality of the vehicles and the service.
(They were also cheaper than the Chinese companies I approached!)