Venture-Backed Yidao Yongche To Establish Offline Car Rental Arm

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Beijing-based online car rental services platform Yidao Yongche plans to establish an offline car rental services arm to complement its existing online car reservation services and financial leasing services, according to unverified Chinese media reports.

Yidao Yongche has reportedly raised RMB8 billion (US$1.3 billion) for the effort.

Representatives of Yidao Yongche did not respond to an inquiry to confirm the news.

China Money Network

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