China's FAW Group joined the highly competition local ride hailing sector this week with the launch of its own ride-hailing app, called Qimiao Chuxing.
The new app targets the mid to high end segment of the market, providing its H5 and H7 sedans for a range of business travel services including online ride hailing, car rental and vehicle finance.
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The E-HS3 battery-powered SUV will also be available from its Hongqi premium brand subsidiary.
Qimiao Chuxing is being launched in 57 cities across the country, including Beijing, Shanghai, Guangzhou and throughout Shenzhen in Guangdong province.
FAW joins a number of local carmakers to launch their own ride hailing platforms, including Great Wall Motors, SAIC Motor and GAC Group, to compete in a market forecast by global consultancy Bain & Company to be worth US$72bn annually by 2020.
Didi Chuxing is currently China's leading ride hailing company with an estimated 90% market share and 500m users.
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By GlobalDataEarlier this month it agreed to strengthen its partnership with Toyota by establishing a new joint venture in the smart transportation sector called Fengju Chuxing Technology which will provide services such as vehicle sales, technology research and development in addition to ride hailing.
