Alibaba's Smart Car Subsidiary Allies with Rental Platform Atzuche on Car Financing

Sina Tech, 8/24/16

Smart car developer Banma Network Technology, a subsidiary of Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA), has announced a car financing partnership with online and mobile P2P car rental platform Atzuche. Banma will offer loans to Atzuche users looking to purchase a Banma car, and the user can then list her car on Atzuche and make it available for rental. By signing a long-term rental contract, rental earnings can cover the payments for the car while additional income belongs to the user.

Atzuche's partnership with Banma Network has the potential to shake up the car financing industry, allowing more users to own and use smart cars, stated Atzuche COO Li Yuyu.

Atzuche, which is available through its mobile app and website, allows users to offer their cars for rent or to rent other users' cars.

Keywords: Li Yuyu online lending mobile lending Banma Network Internet P2P Alibaba Group BABA Atzuche automobile smart vehicle vehicle rental app

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