iZU

About iZU

iZU, also known as Shouqi Car Rental (首汽租车), is a significant player in China's vehicle rental and mobility market, with a history dating back to 1992. The company operates as a state-owned enterprise under the Shouqi Group and Beijing Tourism Group, a lineage that has provided a strong foundation and brand reputation, particularly for serving state conferences and dignitaries.

The business offers a comprehensive suite of services catering to both B2B and B2C clients. Its primary revenue streams are derived from corporate long-term rentals, short-term self-drive rentals for individuals, and international car rentals. The company has established a robust physical presence, with operations in over 170 domestic cities and a fleet size exceeding 50,000 vehicles. In 2017, Shouqi Car Rental rebranded its consumer-facing services with a new logo, "iZU," to modernize its image and clearly define its business-to-consumer (B2C) and business-to-business (B2B) offerings.

Financially, the company has attracted substantial investment to fuel its expansion. In late 2016, it successfully closed Series A+ and B funding rounds, securing approximately RMB 2.15 billion (around $309 million) from investors including Taiping Assets Management and CCB International. This capital was earmarked for fleet expansion, technology improvements, and marketing. The company also operates within the larger Shouqi mobility ecosystem, collaborating with affiliated services like Shouqi Limousine & Chauffeur (a ride-hailing service) to create synergies and enhance its service offerings. This strategic positioning allows iZU to address a wide spectrum of transportation needs, from government and corporate fleet solutions to individual and tourist rentals, in China's rapidly growing vehicle rental market.