Geely, Daimler’s 50/50 ride-hailing joint venture sets up subsidiary in Xi’an

Shanghai (Gasgoo)- StarRides, a premium ride-hailing service provider between Daimler Mobility AG and Geely Technology Group, established on May 21 a wholly-owned subsidiary in Xi' an, the capital of Shaanxi Province, according to the business data search platform Tianyancha.

Involving a registered capital of 60 million yuan ($8,382,930), the new subsidiary, dubbed Xi’an Xingxiang Mobility Technology Co.,Ltd., is wholly controlled by Weixing Technology Co.,Ltd., the operation entity behind StarRides. Gu Tao, CEO of StarRides, serves the legal representative of the newly-founded company.

Xi'an Xingxiang's line of business includes the operation of road passenger transport, Internet-based car-hailing service, road freight transport and car rental service, and the sales of distributed AC charging piles, according to Tianyancha.

(Photo source: StarRides)

Geely Technology Group and Daimler Mobility Services claimed as early as October 2018 that they would co-build a 50/50 joint venture headquartered in Hangzhou to provide premium ride-hailing services. Then on March 28 last year, Geely Holding and Daimler AG announced the formation of a 50/50 globally focused joint venture to operate and further develop smart brand as a leader in premium-electrified vehicles. The Weixing Technology is what the joint venture is named.

Both parent companies unveiled in last December the premium ride-hailing brand StarRides in China. The inaugural services began in Hangzhou, a populous city home to Geely Holding, in the same month with a fleet of 100 vehicles including Mercedes-Benz S-Class, E-Class and V-Class vehicles. “StarRides will expand to other major cities in China starting in 2020,” Daimler said then.

Prior to the founding of the Xi'an company, Weixing Technology has already set up four wholly-owned subsidiaries that are registered in Hangzhou, Guangzhou, Beijing and Shanghai respectively.