A new route for ride-hailing companies in China

The ride-hailing market in China is saturated and smaller players are now entering into new markets like electric and logistics vehicles to avoid direct competition with the dominant players.

A new route for ride-hailing companies in China

Regional ride-hailing company Wuhan BMKP Technology BMKP announced on Tuesday that it has raised Rmb300 million $43 million from Beijing Qianjiayuan Capital for business expansion.

BMKP also signed a partnership agreement with Shenzhen-listed Chinese car maker Zotye Auto for alternative energy vehicles and fuel-engine cars.

BMKP chief executive Li Jia has said that proceeds will only be used for company operations, and not for the purchase of cars.

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