HANGZHOU, China, Dec. 2, 2010 /PRNewswire-Asia/ -- Mitsubishi Corporation has signed a formal contract with Zhejiang Cheeyo Auto Renting Co., Ltd recently regarding the first round of investment amounting to 20 million US dollars by Mitsubishi to Cheeyo to cooperate and establish an international car rental company. This is another strong move made by one of the Top 500 in the Chinese car rental industry after the investment made by Goldman Sachs Group to eHi Car Service last August.
Zhejiang Cheeyo Auto Renting Co., Ltd, with over 2,000 cars, is one of the senior car rental chain corporations in China and has set up more than 110 direct car rental stores at airports, ports, stations, shopping malls and tourist attractions in 35 large and medium cities including Beijing, Shanghai, and Zhejiang, etc.
"Compared with buying a car, renting one for travel is more economical and more environmentally friendly," said Wang Xiaolin, Present of Zhejiang Haina International Auto Renting Co., Ltd. The upgraded Haina Car Renting Company will offer a more multi-faceted, more individualized and more quality service.
Mitsubishi Corporation, with annual turnover as much as 250 billion US dollars, is a core member of Mitsubishi Foundation. Its business scope covers many fields including vehicle and plane rental, production and sale of vehicle, energy, etc.
Click here to get more detailed information about investment by Mitsubishi Foundation to Cheeyo Car Renting Company: http://www.caihuanet.com/zhuanlan/meiti/21cbh/201011/t20101129_2266578.shtml
