eHi Car Services

About eHi Car Services

eHi Car Services Limited is a major provider of vehicle rental and chauffeured car services in the People's Republic of China, operating a business model that integrates both self-drive rentals and chauffeured options. The company was founded in Shanghai in January 2006 by Ray Zhang, who serves as Chairman and CEO. Zhang's journey into the Chinese rental market began in 2003 when he, already CEO of U.S.-based fleet logistics software firm Aleph Inc., identified a gap in the market and decided to build a company to fill it. With over two decades of experience in vehicle dispatching and fleet management systems, his background was instrumental in shaping the company's direction.

eHi commenced operations by focusing on high-end chauffeured services for corporate clients. Recognizing a broader opportunity, the company expanded into self-drive rentals for individual customers in 2008. The business serves a diverse clientele, including individual consumers for travel and leisure, as well as corporate and institutional clients for their ground transportation needs. Its revenue is generated directly from these rental and chauffeured service fees. A significant milestone was its strategic partnership with Enterprise Holdings in March 2012, which acquired a 15% stake and a board seat, connecting eHi to international markets and expertise. The company further solidified its market position through a strategic partnership with the online travel agency Ctrip in 2013.

The company's service offerings are comprehensive, providing a one-stop platform for mobility solutions. For self-drive customers, eHi offers short-term rentals (daily, weekly, monthly) and long-term rentals (a year or longer). Its chauffeured car services are a key offering for corporate clients. The company operates an extensive network of over 10,000 service points across more than 500 cities in China and manages a diverse fleet of over 80,000 vehicles from more than 200 models. A key feature is the convenience of nationwide vehicle pick-up and return. To enhance customer experience, eHi introduced innovations such as deposit-free rentals and contactless car pick-up and return through self-service lockers. The company also became the exclusive strategic partner in China for Enterprise, the world's largest car rental company.

eHi Car Services became the first Chinese car rental company to be listed in the United States, debuting on the New York Stock Exchange (NYSE) under the ticker EHIC in November 2014, raising $120 million. However, after several years on the public market, the company completed a going-private transaction and was delisted from the NYSE in April 2019. In early 2024, reports indicated that eHi is considering a return to the U.S. stock market.