Senmiao Technology announces cooperation with Travelgo.com
Senmiao Technology Limited ("Senmiao") (Nasdaq: AIHS), a financing and servicing company focused on the online ride-hailing industry in China as well as an operator of its own online ride-hailing platform, today announced the signing of a cooperation agreement with Nanjing Tongyou Tianxia Auto Leasing Co., Ltd., an affiliate of Tongcheng-Elong Holdings Limited (HKSE: 0780) that operates Travelgo.com, which is part of LY.com, a leading provider of leisure travel in China.
As a leading travel website in China focused on providing custom travel itineraries for consumers, including domestic and international flights, train and hotel, Travelgo.com serves over 200 million customers. Under Senmiao's collaboration with the platform operated by Travelgo.com, when a traveler makes a booking through Travelgo.com, they will be provided with the option to book an online ride-hailing vehicle for a trip from the airport or train station to their final destination. If a traveler books an online-ride hailing vehicle, the order will then be sent to a registered driver on Senmiao's platform for viewing and acceptance. Senmiao will earn commissions for each completed order based on a certain percentage of the value of the order.
Xi Wen, Senmiao's Chairman and Chief Executive Officer, stated, "We are pleased to begin this cooperation with a leader in China's travel industry Travelgo.com at a time when the demand for travel and tourism is beginning to see some resurgence post pandemic. We expect to see a strong recovery in tourism during the upcoming May Day holiday in China as individuals are increasingly beginning to make travel plans. We believe that adding our online ride-hailing services as an option for TravelGo customers increases the ease and convenience of completing their itineraries. We anticipate this cooperation will help drive increased order flow from airports and railway stations to the urban district where our online ride-hailing drivers run their businesses through Senmiao's platform, which will serve to accelerate its continued growth."
