Uxin Announces Strategic Partnership with Taobao
HANGZHOU, China, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (UXIN), the largest used car e-commerce platform in China, and Taobao, China’s massive and fast-growing consumer community, operated by Alibaba Group Holding Limited (“Alibaba Group”) (BABA), entered into a strategic partnership to foster further growth and expand service opportunities for used car e-commerce in China. At the initial stage, the two companies will provide a full suite of used car product and service offerings ranging from intelligent listing, displaying and matching, to one-stop transaction solutions. For example, in addition to the standard inspection report that evaluates 315 check points of a used car listing, the two companies will also provide videos and VR car viewing experience so that consumers can gain a comprehensive understanding of the car’s condition. Users will also be able to enjoy a full range of financing and post-transaction services, with superior consumer protection policies provided by both Taobao and Uxin. “As China’s largest used car e-commerce platform which pioneers in facilitating cross-regional transactions, Uxin’s platform shares many similarities with Taobao, which presents many areas for potential synergies,” said Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin.