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Aya Lin · · 1 min readIn brief: Tencent, Alibaba-backed ride-hailing firm T3 Chuxing starts operations
- Ride-hailing venture T3 Chuxing, backed by some of China’s biggest tech companies such as Tencent and Alibaba, has begun operations in the eastern city of Nanjing, Caixin Global reported.
- The company, which was founded just in March, has a registered capital of roughly US$1.42 billion, according to its filing.
- It said it plans to deploy about 20,000 new-energy cars in 2019, which may increase to 1 million vehicles by 2025.
- T3 Chuxing’s other investors include retail company Suning and Chinese carmakers Chongqing Changan, Dongfeng Motor Group, and China FAW Group.
Editing by Charmaine de Lazo
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