eHi Auto Services is a Shanghai-based car rental company led by CEO and Founder Ray Zhang. The company provides car rental services to both corporate clients and consumers across 80 cities. It operates more than 400 service outlets and its fleet exceeds 13,000 vehicles covering 100 different vehicle types. eHi received an investment of over $100m from Ctrip.com International Ltd. and other existing investors. Ctrip will become the company’s second-largest strategic partner after Enterprise Holdings, which invested in 2012. Past investors include Qiming, Ignition, Jafco, New Accesss, CDH, Goldman Sachs and Enterprise. eHi Car Rental is a Shanghai-based operator offering customer-oriented self-drive service, short-term chauffeured service and long-term fleet management for corporate clients. It operates over 120 self-drive locations in 34 cities and provides chauffeured service in over 70 cities, serving over half a million customers. Its fleet exceeds 4,000 vehicles, ranging from mini-size cars to 53-seat buses. The company signed a US$70M agreement with a consortium of international investors led by Goldman Sachs. Management said the proceeds will be used to expand the fleet and geographic coverage, provide more value-added services, pioneer a greener lifestyle through car sharing, and promote fleet outsourcing to more corporate clients. The transaction is expected to complete soon as eHi aims to maintain its leading position in China’s car rental market.

Total raised

$170M

Funding rounds

2

Latest round

Equity

Latest activity

Dec 2013