Sunday, 2024 April 21

Tencent-backed ride-hailing startup to start service this month

OnTime, a Guangzhou-based ride-hailing startup which is backed by Tencent, Guangzhou Automobile Group, and Guangzhou Public Transport, announced on Tuesday that its ride-hailing service will come online this month.

These services will cover the Greater Bay Area – a megalopolis consisting of 11 cities in the Pearl River Delta including Shenzhen, Guangzhou, Hong Kong, and Macau – initially and later expand nationwide.

Tencent, one of China’s largest tech giants and also an early investor of the country’s largest ride-hailing service provider Didi Chuxing, has a 30% stake in OnTime.

The Guangzhou-based company, which was set up in March 2018, is a further indicator of Tencent’s ambition to make its mark in the ride-hailing market.

Tencent has reportedly registered trademarks for mobility-related services in April.


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