Germany’s BMW became the first foreign automaker to break into the world’s largest ride-hailing market in China after snagging an operating license in Chengdu.
Local transportation authorities in the capital of the southwest province of Sichuan told Caixin that it awarded a ride-hailing business license to BMW’s China unit BMW Mobility Service Ltd. Reuters reported that BMW plans to launch the service in Chengdu in December. BMW didn’t respond to a Caixin inquiry.
BMW Mobility, a wholly owned subsidiary, was registered in Sichuan in April, and its services include online taxi booking and car rentals.
A growing number of traditional carmakers, including state-owned SAIC Motor and private Zhejiang Geely Automobile Holdings, have tapped the booming ride-hailing market in China, which is largely dominated by Didi Chuxing.