UCAR operates a fleet-based ride‑hailing and chauffeured service model using licensed drivers, positioning itself as an alternative to crowd-sourced platforms. Its business spans four product lines: Car. Inc (a Hong Kong‑listed car rental arm), Shenzhou Zhuanche (chauffeured car service), an online car marketplace, and a car loan service. CEO Charles Lu said all of the company’s business units are on track to record a profit this year. Management has signaled further expansion into new areas, with car manufacturing cited as a possible future move. The company has completed multiple large financings, including an initial RMB 4.6 billion in new funds announced in the current raise and a prior RMB 10 billion private placement last October; it is listed on the Chinese OTC market and is valued at RMB 40.93 billion (~$5.95 billion). The newly raised capital is planned for marketing, recruitment, expanding UCAR’s offline presence and increasing its fleet.

Total raised

$668M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2017