Company to Offer Chauffeured Car Services for Both Business and Individual Travelers
SHANGHAI, January 21, 2015 /PRNewswire/ — eHi Car Services Limited ("eHi" or the "Company") (NYSE: EHIC), a leading car rentals and car services provider in China, and Ctrip (NASDAQ: CTRP), a leading travel service provider for hotel accommodation, ticketing services, packaged tours and corporate travel management in China, jointly announced the expansion of their business partnership to include deeper integration of travel products and services for individual and corporate clients in China.
Under the expanded cooperation agreement, Ctrip will integrate eHi’s chauffeured car services, including airport pick-up and drop-off and other business transportation services, into its corporate and individual service offerings. Ctrip will also feature and promote eHi’s services on its official website, mobile client application and its various offline channels. The expanded partnership builds on the previous cooperation agreement of the two companies which appointed eHi as the designated and preferred business partner of Ctrip in providing car rental services. As part of that agreement, Ctrip integrated access to eHi’s online reservation system in its Ctrip Travel mobile application.
Ray Zhang, eHi’s chairman and chief executive officer, said, "We believe the expanded partnership and continued integration of eHi’s professional and comprehensive car rentals and car services into Ctrip’s leading online travel platform will help enrich the travel experience and solve the ‘last mile’ needs of business travelers and tourists in China. Additionally, we anticipate that the synergies between our businesses will allow us to provide more competitive travel products and gain access to Ctrip’s user base, which will help us grow user traffic."
James Liang, chairman and chief executive officer of Ctrip, said, "eHi’s car rental services have been the preferred choice for Ctrip clients and this has helped pave the way for the deepening of our cooperation. In our never-ending quest to provide a seamless travel experience for our customers, we aim to team up with car service partners we know can be trusted to deliver quality services. eHi has been a natural partner with its leading car rentals and car services platform, broad geographic coverage and innovative services."
About eHi Car Services Limited
eHi Car Services Limited (NYSE: EHIC) is China’s No. 1 car services provider and No. 2 car rentals provider in terms of market share by revenues in 2013, according to Frost & Sullivan. 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/.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management in China. It is the largest online consolidator of accommodations and transportation tickets in China in terms of transaction volume. Ctrip aggregates comprehensive travel related information and offers its services through an advanced transaction and service platform consisting of its mobile apps, Internet websites and centralized, toll-free, 24-hour customer service center. Ctrip enables business and leisure travelers to make informed and cost-effective bookings. It also helps customers book vacation packages and guided tours. In addition, through its corporate travel management services, Ctrip helps corporate clients effectively manage their travel requirements. Since its inception in 1999, Ctrip has experienced substantial growth and become one of the best-known travel brands in China.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. eHi may also make written or oral forward-looking statements in its reports filed with or furnished to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about eHi’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: eHi’s goals and strategies; its future business development, financial condition and results of operations; its ability to achieve and sustain profitability; its heavy reliance on its proprietary technology platform; its ability to compete successfully against current and future competitors; its ability to sustain our growth rates and manage our expansion plan; its ability to dispose used vehicles at desirable prices or timing or through appropriate channels; its ability to raise sufficient capital to fund and expand our operations at a reasonable cost; various government policies on automobile control and purchase restrictions in certain Chinese cities; its ability to enhance our brand recognition and maintain a high level of customer satisfaction; its ability to control the losses resulting from customer violation of traffic rules; and its ability to obtain all of the requisite permits, licenses or making all of the requisite filings or registrations or meeting other regulatory requirements for operating car rentals and car services business in China. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is current as of the date of the press release, and eHi does not undertake any obligation to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
eHi Car Services Limited
Tel: +86 (21) 6468-7000 ext. 8742
E-Mail: ir@ehic.com.cn
Mr. Nicholas Manganaro
Ogilvy Financial
In China: +86 (10) 8520-6139
In the U.S.: +1 (646) 867-1888
E-mail: ehic@ogilvy.com
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