Transport Cars

China’s Largest Rental Car Site Seeks to Raise $400 Million in IPO

Excerpt from Tech in Asia

Jun 01, 2014 7:00 am

Skift Take

Although the car rental site just filed its IPO, it faces an onslaught of competition for app-based and car-sharing services that are growing in popularity around Asia.

— Samantha Shankman

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 / Shenzhou Zuche

Shenzhou Zuche is China’s top car rental site and service. / Shenzhou Zuche


What’s Shenzhou Zuche? It’s China’s top car rental site and service. The startup had just a few hundred self-drive rentals in 2009, but it’s now grown to 55,400 vehicles, according to China Auto Rental’s IPO filing.

China Auto Rental filed with the Hong Kong Stock Exchange (SEHK) last week (see PDF), but today Netease Tech reports an update that the company is aiming to raise US$400 million from its IPO. 

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