Uxin, Taobao team up to accelerate used car market in China

Uxin Ltd, the Nasdaq-listed and largest used car e-commerce platform in China, and Taobao, the flagship e-commerce platform of the Chinese technology giant Alibaba Group, announced a strategic partnership on December 6 to foster further growth and expand service opportunities for used car e-commerce in China.

The two companies will set up an online used car shopping mall on Taobao Marketplace. At the initial stage, the two companies will provide services ranging from intelligent listing, displaying and matching, to one-stop transaction solutions. They will also provide videos and VR car viewing experience so that consumers can gain a comprehensive understanding of the car's condition.

Taobao users will be able to select more than 290,000 used cars online and get its cross-regional transaction facilitation capabilities.

"As China's largest used car e-commerce platform which pioneers in facilitating cross-regional transactions, Uxin's platform shares many similarities with Taobao, which presents many areas for potential synergies," said Kun Dai, Founder, chairman and CEO of Uxin.

"Over the past few years, consumers have become increasingly receptive to buying used cars as a cost-effective alternative to new vehicles. This is particularly the case for consumers in lower-tier cities. With extremely limited used car selection in most cities, there is rapidly growing demand for an online platform that expands access to used cars from across the country," added Kun Dai.

"Through the combination of Uxin's nationwide supply chain and Alibaba's massive traffic, our partnership will bring significant benefits to both used car consumers and business customers," said Fan Jiang, president of Taobao.