BEIJING, Sept. 4,
2024 /PRNewswire/ -- Recently, Quhuo
International, the overseas division of Quhuo Limited (NASDAQ: QH),
and GET Holdings established a strategic partnership in
Azerbaijan with electric vehicle
(EV) dealer Volt Auto and mobility platform Bolt. This strategic
partnership aims to boost EV adoption, improve ride-hailing
services, and enhance local lifestyle services, marking a key step
in Quhuo International's global strategy.
The global EV market is booming, with sales hitting nearly 14
million units in 2023, which accounted for one-fifth of total
vehicle sales worldwide, as reported by the International Energy
Agency (IEA). In response, Quhuo initiated its overseas division,
Quhuo International, in 2023. This new division offers services
including vehicle repair and inspection, value-added
reconditioning, and cross-border B2B trading to used car dealers in
China, EV manufacturers, and
global distributors.
Azerbaijan, strategically
located on the "Belt and Road" initiative and a vital Eurasian
transport hub, offers significant advantages. As the host of the
upcoming 29th United Nations Climate Change Conference (COP29), the country is actively encouraging new
EV development. Capitalizing on this opportunity, Quhuo
International is introducing Chinese-made electric vehicles to meet
the increasing local demand in Azerbaijan.
Additionally, Quhuo International has teamed up with Bolt, a
well-known global mobility platform, to provide sales,
lease-purchase options, as well as short-term and long-term EV
rental services. This partnership aims to address the
transportation needs of both local residents and tourists, enhance
their driving experience, and ultimately increase public acceptance
of EVs.
The ride-hailing industry in Azerbaijan is experiencing significant growth,
with a 14% increase in users over the past five years, according to
Statista. With over five years of experience and strong ties to
China's leading ride-hailing
platforms, Quhuo International's operations team is well-positioned
to capitalize on this growth. It is ready to introduce
industry-leading services and technology to the Azerbaijani
market.
Quhuo International will offer comprehensive ride-hailing
operational systems for the Azerbaijani market, including both
online software services and offline management support. For online
aspects, it will provide SaaS business services tailored to meet
local needs accurately. Offline, it will apply its successful
experience and proven management models to help establish a
localized ride-hailing operation management team. This dual
approach is designed to fast-track the positive growth of
Azerbaijan's ride-hailing
market.
In addition, Quhuo International will help expand local life
services in Azerbaijan, ranging
from food delivery to group purchasing programs for daily needs.
With over a decade of experience in local life services, Quhuo has
been enhancing its Quhuo+ platform since 2012. This platform uses
advanced big data analytics to effectively match service providers
with the local workforce. Leveraging its extensive experience and
technology, Quhuo International aims to enhance the standard and
quality of life services in Azerbaijan.
Quhuo International's strategic initiatives in Azerbaijan highlight its dedication to
empowering the local market. As the partnership progresses, it is
anticipated to create new job opportunities and spur economic
growth in Azerbaijan, providing
residents with access to more efficient and eco-friendly
transportation and lifestyle services. This collaboration is a
significant milestone in Quhuo International's global expansion.
Having already formed alliances with 58 overseas distributors,
Quhuo International leverages its innovative "Industry + Internet"
model to generate value-added opportunities for stakeholders in the
global automotive sector and advance international automobile
trade.
Mr. Bo Liang, General Manager of
Quhuo International, said: "We are thrilled to establish this
strategic partnership. Azerbaijan,
a crucial nation along the 'Belt and Road' initiative, offers
significant growth potential in both the EV and ride-hailing
sectors. Quhuo International is dedicated to utilizing our
expertise in global automotive trading and mobility solutions to
meet Azerbaijan's increasing need
for efficient and sustainable transportation options."
Leslie Yu, Founder, Chairman, and
CEO of Quhuo, stated: "This cooperation is an important milestone
in Quhuo International's global strategy. We believe that
introducing China's advanced EVs
and mobility service solutions internationally will positively
impact global automotive innovation. Moving forward, Quhuo
International will enhance overseas partnerships, expand our global
reach, and drive sustainable development in the automotive sector
worldwide."
About Quhuo Limited
Quhuo Limited (NASDAQ: QH) ("Quhuo" or the "Company") is a
leading gig economy platform focusing on local life services
in China. Leveraging Quhuo+, its proprietary technology
infrastructure, Quhuo is dedicated to empowering and linking
workers and local life service providers and providing end-to-end
operation solutions for the life service market. The Company
currently provides multiple industry-tailored operational
solutions, primarily including on-demand delivery solutions,
mobility service solutions, housekeeping and accommodation
solutions, and other services, meeting the living needs of hundreds
of millions of families in the communities.
With the vision of promoting employment, stabilizing income and
empowering entrepreneurship, Quhuo explores multiple scenarios to
promote employment of workers, provides, among others, safety and
security and vocational training to protect workers, and helps
workers plan their career development paths to realize their
self-worth.
Safe Harbor Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended and the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical or current fact
included in this press release are forward-looking statements,
including but not limited to statements regarding Quhuo's business
development, financial outlook, beliefs and expectations.
Forward-looking statements include statements containing words such
as "expect," "anticipate,"
"believe," "project," "will"and similar expressions
intended to identify forward-looking statements. These
forward-looking statements are based on Quhuo's current
expectations and involve risks and uncertainties. Quhuo's actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these
risks and uncertainties, which include, without limitation, risks
and uncertainties related to Quhuo's abilities to (1) manage its
growth and expand its operations, (2) address any or all of the
risks and challenges in the future in light of its limited
operating history and evolving business portfolios, (3) remain in
its competitive position in the on-demand food delivery market or
further diversify its solution offerings and customer portfolio,
(4) maintain relationships with major customers and to find
replacement customers on commercially desirable terms or in a
timely manner or at all, (5) maintain relationships with existing
industry customers or attract new customers, (6) attract, retain
and manage workers on its platform, and (7) maintain its market
shares in relation to competitors in existing markets and its
success in expansion into new markets, as well as the development
of the COVID-19 pandemic and its impact on Quhuo's business and
industry. Other risks and uncertainties are included under the
caption "Risk Factors" and elsewhere in the Company's filings with
the Securities and Exchange Commission, including, without
limitation, the final prospectus related to the IPO filed with the
SEC on July 10, 2020 and the
Company's latest annual report on Form 20-F. You are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement, and Quhuo undertakes no obligation to revise
or update any forward-looking statements to reflect events or
circumstances after the date hereof.
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SOURCE Quhuo Limited