Beijing Shenzhou Car Rental Co., Ltd., Hertz Car Rental, founded in 1918 in the United States, is a well-known brand in the car rental service industry, with many models and short-term rental services - daily, weekly and monthly rental companies
Hertz has 1,900 locations nationwide in the U.S. and 6,600 locations worldwide. It has a wide range of vehicles and offers short-term rentals – daily, weekly and monthly. Car rental outlets are located at airports, city centers, business centers in the suburbs, as well as residential areas and tourist destinations. As a global leader in the car rental industry, Hertz has more than 8,500 car rental locations in the U.S. and 146 countries around the world.
Strategic investments
On April 16, 2013, Hertz Corporation (NYSE: HTZ), a global car rental giant, and China Car Inc., a leading brand in the car rental industry, jointly announced that the two parties have officially signed a cooperation agreement and launched a comprehensive strategic cooperation. Under the terms of the agreement, Hertz will make a strategic investment in CAR, acquiring a nearly 20% stake in CAR and a seat on its board of directors. At the same time, CAR will acquire and integrate all of Hertz's car rental businesses in China.
The two brands, Hertz and CAR, will appear in both companies' subsequent nationwide rental service stores, and Hertz stores will be integrated into the Shenzhou operation system to continue to provide high-end rental services. CAR was granted a five-year license to operate Hertz's car rental business in China and establish a network of Hertz's full-service high-end stores in major cities across the country. In addition, the cooperation between the two companies will also focus on self-driving and chartered car business, as well as short-, medium- and long-term vehicle leasing business.
Beijing Shenzhou Car Rental Co., Ltd
CAR Inc. (hereinafter referred to as CAR) was established in September 2007 and is headquartered in Beijing. As a leading car rental service provider in China, CAR actively draws on the internationally successful car rental model and combines the consumption habits of Chinese customers to provide customers with professional car rental services such as short-term rental, long-term rental and financial leasing, as well as comprehensive supporting services such as national rescue and one-way car return. As of June 2014, CAR has 717 service outlets in 70 major cities in China, serving more than one million individual customers and nearly 10,000 corporate customers, making it the largest national car rental chain in China.
CAR adheres to a customer-oriented professional attitude, subverts the cumbersome traditional car rental model, and provides customers with a fast and convenient new car rental service experience. The company's service network in major cities and tourist areas in Chinese mainland, as well as 24-hour car pick-up and return services and supporting services, can not only meet the needs of customers for car rental services anytime and anywhere, but also escort customers' safe driving.
