Both companies will be deploying the online ride-sharing platform Cao Cao Zhuan Che to launch around 20,000 Kandi brand pure EVs.

Kandi Electric Vehicles Group Co., Ltd., has apparently made it to the headlines for having joined hands with Hangzhou Youxing Technology Co. Ltd. in a bid to explore new and highly innovative models for an online ride-sharing business. If reports are to be believed, Youxing Technology and the Kandi Vehicles and Geely Group JV plan to accomplish the same by combining their resources and market advantages.

As per sources familiar with the knowledge of the matter, the signing ceremony witnessed the presence of  representatives from both the companies. Mr. Zhu Feng, CEO, Kandi Electric Vehicles Group Co., Ltd., and Mr. Dong Kainan, General Manager, Youxing Technology inked the Cooperation Agreement in the presence of Mr. Hu Xiaoming, Chairman, Kandi Electric Vehicles Group Co., Ltd., and Mr. Liu Jinliang, Chairman, Youxing Technology. Both the parties have seemingly agreed to utilize the ‘Cao Cao Zhuan Che’ – an online ride-sharing platform in order to launch around 20,000 Kandi brand pure EVs for urban network ride-sharing services by the next three years.

For the uninitiated, the Cao Cao Zhuan Che is Youxing Technology’s core business brand and is known to be the foremost domestic new energy centric mobility service in China. The platform, armed with a focus retained on environmentally friendly concepts across the urban scenario, aims to bring forth a new mobility solution to the overall electric vehicle ride-sharing market.

According to an official press release by the Kandi Electric Vehicles Group, Mr. Hu Xiaoming, Chairman, Kandi Electric Vehicles, has been quoted to state that the company is rather thrilled to cooperate with Youxing Technology and strongly believes that the association will provide users with a highly convenient, top-notch ride-sharing experience.

The alliance is actually a part of the effort to achieve a one-stop low-carbon lifestyle, Xiaoming claims, adding that combining the resources of both the companies will enable them to curtail costs, maximize business profits, and expand market share.