Hangzhou Kuaidi Technology Co., a taxi-booking service backed by Alibaba Group Holding Ltd. (BABA), is adding luxury cars in China to boost revenue as it steps up its challenge to Uber Technologies Inc.
Kuaidi is targeting wealthy travelers with a new smartphone application as it partners with chauffeur companies in Beijing, Shanghai, Guangzhou and Hangzhou, Chief Executive Officer Dexter Lu said in an interview. The new cars include the 5-Series from Bayerische Motoren Werke AG and Audi AG’s A6.
Uber and Kuaidi are competing with Didi Taxi, which is backed by Tencent Holdings Ltd. (700), for a bigger slice of China’s 500 million users who access the Internet from their phones and are boosting use of location-based services. The new app, known as “Yi Hao Zhuan Che” in Chinese, is part of Lu’s push for a revenue model to sustain the business, which generated 50 million yuan ($8 million) of sales last month.
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