The State Council Executive Conference encourages car sharing model PP car rental to welcome policy dividends

The executive meeting of the State Council just held last month introduced a new batch of measures to simplify administration, decentralize power, and integrate reforms. Among these, measures targeting the new energy and small-displacement vehicle development measures, incentives for innovative time-sharing and vehicle sharing, and other operational models in the automotive industry have aroused widespread concern in the corporate world. This will encourage and promote the development of the domestic automobile sharing industry. As a leading brand occupying 90% of the industry's market share, PP car rental will also receive a huge policy dividend.

Different from the impact of the private car business on the traditional rental industry, the innovative car sharing business takes the responsibility of integrating the huge stock of private car resources in large and medium-sized cities in China, and fully improves the utilization rate of idle vehicles, thereby alleviating the traffic and environmental problems in modern big cities. Thanks to the unanimous encouragement and support of the market and the government at all levels, through the open statement of Premier Li Keqiang, the policy of car sharing has become fully clear.

“When we started to choose a car to share in the direction we considered, in addition to the PP car rental market is large enough, team capacity can be covered, the business model also has positive social benefits, not only the lowest cost for the owner and tenant integrated car, but also Saving the entire social resources and alleviating traffic pressures, the government's support and encouragement of this business model is an inevitable social development,” said Zhang Bingjun, the CEO of PP Car Rental.

Since October 2013, when the PP rental car was formally launched in Beijing, it has now covered 16 large and medium-sized cities in China and provided car sharing services for 600,000 car owners and more than one million tenants. In a short span of two years, this kind of innovative business model achieved the growth that the traditional car rental industry could spend in nearly ten years. In the Spring Festival of 2015, the number of PP car rental orders in transit exceeded one trip; in mid-2015, PP. The peak price of car rental in the Beijing market is as high as 80% of the car rental in China.

It is understood that the business model of car sharing has also attracted wide attention from both domestic and foreign investment fields. PP Car Rental initially obtained angel funds from government funds in Singapore. After entering China, it obtained angels from US group founder Wang Xing and CEO Zhuang Chenchao. In March 2014, it received a $10 million Series A round of financing led by Sequoia Capital, the world's top investment agency. On November 4, 2014, PP Rental announced $60 million in round B financing, IDG, Morningside Capital and other top heavyweight capitals. The main vote.

“In the current mobile travel market, Didi travels to take the driver’s drive in the travel market, while the PP Car Rental focuses on not providing a driver’s own travel market, which is currently differentiated in multiple levels of users, products, technologies, and operations. With competitive advantages, PP Car Rental will continue to improve the user experience by leveraging the policies and let more users enjoy convenient and efficient self-driving car services, said Zhang Bingjun.