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Chinese car hire app Yidao Yongche might soon strike a deal with Uber

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Chinese private car hire app Yidao might be looking forward to strike a deal with Uber, the $40 billion worth ride-hailing company.

Yidao Yongche hinted this upcoming tie up through a post on its official Weibo account on Sunday featuring an image of a heart connecting its own and Uber’s logos with a phrase “It’s best to be together”.

Both the firms have been facing hard winds from China’s regulators and have been looking forward for a substantial boost and an opportunity to fight against local rivals, which are much ahead in the competition. A partnership between the two could result into a better position in the country. Yidao Yongche hinted that the news will be announced at a press conference on Wednesday.

Such a tie up was witnessed earlier when Didi Dache and Kuaidi Dache announced a $6 billion tie-up to create one of the world’s largest smartphone-based transport services. Both the firms have powerful backers like Tencent Holdings Ltd and Alibaba Group Holding Ltd and are dominating this business area in the country and accounts for over 90 percent of China’s taxi-app market.

This is not the first time that Uber will be making a strategic partnership in China to rocket boost its presence in the country. Earlier, it entered into a strategic partnership with Chinese online search firm Baidu Inc, the third of China’s big three Internet firms.

Senior Writer

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