Geely New Travel Company "Happy Tens of Millions" surfaced and received 5 billion yuan of support from Haitong Hengxin

On January 20, Chongqing Happiness Ten Thousand Homes Technology Co., Ltd. (hereinafter referred to as "Happiness Ten Thousand Homes"), a new travel company under Geely Holding Group, announced that it has reached a strategic cooperation with Haitong Hengxin and received 5 billion yuan of financial business support from the latter.

Happiness is regarded by the industry as a new chess piece laid by Geely in the online ride-hailing market. It is understood that Happiness Has signed a procurement contract with Geely Automobile for online ride-hailing in 2022.

Founded in December 2021, The company's business scope includes small and micro passenger car rental and operation services, new car sales, road passenger transportation operations, etc.

Liu Jinliang, chairman of Happiness Ten Million Home, said that the company will provide training, examination and certification, vehicle sales, vehicle leasing, vehicle maintenance, financial solutions, order empowerment, energy supply, catering and other services for the online ride-hailing driver group, and provide Geely Evpro special models and vehicle assets with full life cycle management for operators and drivers, and deliver compliant capacity for the platform.

Industry observers believe that the compliance capacity company launched by Geely this time may be related to the previous requirements of relevant ministries and commissions to increase the compliance rate of online ride-hailing platforms.

Since July 2021, domestic travel platforms such as Meituan Express and T3 Travel have accelerated their expansion, and the industry is chaotic. In this context, the Ministry of Transport, the State Administration of Market Supervision and Administration and other departments have put forward a number of specific requirements for promoting the healthy development of the travel industry and improving the compliance rate of online ride-hailing.

Shao Nan, director of the compliance department of Beijing Dongwei Law Firm, analyzed that online ride-hailing is still an emerging business format, and in the process of rapid expansion of the industry, compliance has always been a common problem in front of the online ride-hailing platform. Compliance management of vehicles and drivers is conducive to the healthy development of the ride-hailing industry. At present, the compliance rate of some regions and some travel platforms is still at a low level, and it has become one of the important goals of transportation departments in many places to clear non-compliant transportation capacity and improve compliance rates.

According to statistics released by the Ministry of Transport, by the end of 2021, a total of 258 online ride-hailing platform companies across the country have obtained business licenses for online ride-hailing platforms, an increase of 3 month-on-month; a total of 3.948 million online ride-hailing driver certificates and 1.558 million vehicle transportation certificates have been issued, an increase of 2.2% and 3.9% respectively.

Before The Happiness 10 Million Family received 5 billion yuan of financial business support, Cao Cao Travel, Geely's largest travel platform, completed a 3.8 billion yuan B round of financing in September 2021 and introduced the support of a number of state-owned enterprises in Suzhou. Gong Xin, CEO of Cao Cao Travel, said at that time that he would use the B round of financing to promote key work such as technology research and development, business expansion, service quality improvement, and driver group protection, so as to further enhance the competitiveness of enterprises and expand market share.

(Author |.) City Boundary Wu Kai Editor | Chu Xing)