Volkswagen’s service arm ‘Volkswagen New Mobility Services Investment’ said on Monday that it had acquired Shanghai Zhenlang Transportation Equipment Leasing and will officially establish car rental operations across China.

According to the company’s General Manager, Peter Tempich, after the first step of the acquisition, the company plans to gradually set up car rental stations in all major cities of the country, providing long-term rental and leasing services for corporate clients.

In the second step, it plans to gradually set up car rental stations in all major cities in the country, providing long-term rental and leasing services aimed at corporate clients, said Tempich.

Since its foundation in November 2011, the service company under German automaker Volkswagen AG has concentrated on investments in long-term rentals, after sales services and alternative mobility solutions, such as corporate car sharing and e-mobility services.

Via: ChinaDaily.