The parent company of Enterprise Holdings today announced that it is making a strategic investment and reaching a global affiliation agreement with China-based eHi Auto Services. The investment and agreement, representing an approximately 15-percent stake in eHi, provide Enterprise Holdings representation on eHi’s board of directors.
In addition to helping both companies meet the needs of their respective car rental customers, this new agreement also marks Enterprise Holdings’ entry into China. “We are excited to invest and partner with a market leader in China like eHi,” said Greg Stubblefield, executive vice president and chief strategy officer for Enterprise Holdings. “Under this agreement, not only are our customers assured of a high level of service when traveling in China, but eHi’s customers also will be introduced to our award-winning and friendly service globally.”
“At eHi, we continue focusing on meeting customer needs by delivering convenience and reliable service. We are excited that Enterprise Holdings has chosen to invest in our future growth,and this investment partnership is a further endorsement of our credibility as a leading car rental operator in China,” said Ray Zhang, eHi’s founder, chairman and chief executive officer. “This is a comprehensive partnership covering business development, knowledge transfer and strategic planning, while enabling us to leverage Enterprise Holdings’ 55 years of success.”
As recently reported in Auto Rental News magazine, China’s car rental industry is one of the fastest-growing markets in the world. Through this collaborative agreement, Enterprise Holdings will offer eHi’s services to its business and leisure customers whose travels take them to China, including all Tier 1 cities – namely Beijing, Shanghai, Guangzhou and Shenzhen. Further, eHi’s customers will have worldwide access to the Enterprise Holdings’ portfolio of brands, including at the Los Angeles, San Francisco and Vancouver international airports initially.
eHi – a leading Chinese car rental services provider – operated a fleet of more than 7,600 vehicles and served both individual and corporate customers from 383 locations in 48 cities across China at the end of 2011.
Currently, through its regional subsidiaries, Enterprise Holdings owns and operates the National Car Rental and Alamo Rent A Car brands, as well as its flagship Enterprise Rent-A-Car brand in North America. The company also operates the Enterprise Rent-A-Car brand in the UK, Germany and Ireland, and a licensee network that operates the National and Alamo brands throughout the Americas. Enterprise Holdings also recently acquired Citer SA in France and Atesa in Spain.