eHi Car Services enters into RMB1.5 billion financing cooperation framework agreement with China Development Bank

SHANGHAI - eHi Car Services Limited ("eHi" or the "Company") (NYSE: EHIC), a leading car rentals and car services provider in China, announced that it entered into a five-year framework agreement (the "Agreement") with China Development Bank Shanghai Branch that will include various financing products for an aggregate amount of RMB1.5 billion.

The Agreement also allows eHi and China Development Bank Shanghai Branch to establish an innovative strategic cooperation in various areas, including vehicle fixed-asset investment.

"We are delighted to have the support of China Development Bank Shanghai Branch," said Ray Zhang, eHi's chairman and chief executive officer. "This Agreement will create further economies of scale by enabling the expansion of our network and fleet, while also fulfilling our future business development needs."

sourced:traveldailynews.asia