Chinese high-end car hire service UCAR Inc (838006.NEEQ) has launched its "UCAR Smart Transportation Open Platform (UTOP)." Research institutes at the Chinese Academy of Sciences, China University of Science and Technology, Tianjin University, and the Beijing University of Science and Technology will be the first to participate in UTOP.
The UTOP platform will share UCAR Inc. data regarding travel, car e-commerce, and auto finance with research institutes, governments, and related corporations in order help them complete research projects and business planning. The results of this research will also help UCAR Inc. to optimize its own systems and resource allocation.
UCAR Inc. will invest RMB 300 mln in the plan over the first 3 years, with a focus on smart driving, smart cities, and increasing the number of partners.
UCAR Inc. said that, in the 10 years since the company's establishment, its services have expanded to cover chauffeuring, long and short distance travel, enterprise cars, vehicle sales guarantees, and auto finance. These services have gathered data on millions of vehicles, 30 mln users, and 1 bln trips.