Xiaolinggou

About Xiaolinggou

Xiaolinggou (xlg.cn), known as Ningbo Xiaolinggou Travel Technology Co., Ltd., operates as a new energy vehicle (NEV) direct rental platform in China, with significant backing from Geely Technology Group. The company was officially established in 2017 through the merger and reorganization of a car rental company founded in 2015 and an automotive cloud business from 2013. Its founder and CEO, Hu Gang, leads the company's strategy. The firm's establishment is linked to Li Xingxing, the son of Geely's chairman, who is the actual controller behind its largest shareholder.

The company's primary business is providing long-term rental solutions for new energy vehicles, distinguishing itself from platforms that focus on short-term or hourly rentals. It targets local residents' transportation needs, particularly in county-level cities and surrounding areas, rather than tourists or business travelers. The business model is designed to address the challenge of excess inventory for NEV manufacturers by creating a controlled channel to deploy vehicles and generate revenue. Xiaolinggou offers a range of rental options, including weekly, monthly, quarterly, and annual plans, as well as a rent-to-own model for periods of 3-5 years. Revenue is generated directly from these rental services, and the company also profits from the sale of used vehicles, noting that about 30% of long-term renters purchase the car after their lease period.

Through its online platform and network of over 800 physical stores (a mix of self-operated and franchised), customers can book a variety of NEV models from major manufacturers like Geely, BYD, BAIC, and others. This hybrid approach of a central direct store for asset management and smaller experience stores for customer acquisition and vehicle delivery helps manage assets without being overly capital-intensive. The service aims to be more economical than ride-hailing and more convenient than traditional car ownership. In June 2020, Xiaolinggou secured a significant Series A funding round of 687.7 million RMB from investors including Yincheng Group and Hangzhou Puzhao to expand its R&D, city layout, and channel partnerships.