DIDI Chuxing, China’s biggest ride-hailing company, said Friday that its one-stop automobile solutions platform Xiaoju Automobile Solutions (XAS) has entered a strategic partnership with four subsidiaries of Ping An Insurance in car rental and leasing, auto insurance, car maintenance and electric vehicle charging services.
Under the deal, Ping An Bank will provide financial services to XAS and its partners. The financial services include financing support to fleet operators, bank account and cash management, and retail finance.
Ping An International Financial Leasing will provide car rental and leasing services to Didi’s ride-hailing drivers and the public through XAS’ platform.
Meanwhile, XAS will leverage its large user base and data-driven network management capabilities to raise the overall efficiency of shared fleet networks.
Ping An Property and Casualty and XAS will create an online auto-insurance management platform through the close calibration of their technologies and processes. Both parties will leverage their data capabilities to help fleet operators reduce costs.
Also, Ping An Infrastructure Investment Fund Management and XAS will jointly develop and operate electric vehicle charging services, combining Ping An’s financial resources and smart city infrastructure resources together with Didi’s data and operational expertise.