Enterprise Holdings Enters China With Strategic Investment in eHi Auto Services
Global affiliation agreement serves travel needs of both companies’ customers
ST. LOUIS, Mo. – March 29, 2012 – The parent company of Enterprise Holdings today announced that it is making a strategic investment and reaching a global affiliation agreement with China-based eHi AutoServices. The investment and agreement, representing an approximately 15-percent stake in eHi, provide Enterprise Holdings representation on eHi’s board of directors.
In addition to helping both companies meet the needs of their respective car rental customers, this new agreement also marks Enterprise Holdings’ entry into China. “We are excited to invest and partner with a market leaderin Chinalike eHi,” said Greg Stubblefield, executive vice president and chief strategy officer for Enterprise Holdings. “Under this agreement, not only are our customers assured of a high level of service when traveling in China, but eHi’s customers also will be introduced to our award-winning and friendly service globally.”
“At eHi, we continue focusing on meeting customer needs by delivering convenience and reliable service. We are excited that Enterprise Holdings has chosen to invest in our future growth,and this investment partnership is a further endorsement of our credibility as a leading car rental operator in China,” saidRay Zhang, eHi’s founder, chairman and chief executive officer. “This is a comprehensive partnership covering business development, knowledge transfer and strategic planning, while enabling us to leverage Enterprise Holdings’ 55 years of success.”
As recently reported in Auto Rental News magazine, China’s car rental industry is one of the fastest-growing markets in the world. Through this collaborative agreement, Enterprise Holdings will offer eHi’s services to its business and leisure customers whose travels take them to China, including all Tier 1 cities – namely Beijing, Shanghai, Guangzhou and Shenzhen. Further, eHi’s customers will have worldwide access to the Enterprise Holdings’ portfolio of brands, including at the Los Angeles, San Francisco and Vancouver international airports initially.
eHi – a leading Chinesecar rental services provider – operated a fleet of more than 7,600 vehicles and served both individual and corporate customers from 383 locations in 48 cities across China at the end of 2011.
Currently, through its regional subsidiaries, Enterprise Holdings owns and operates the National Car Rental and Alamo Rent A Car brands, as well as its flagship Enterprise Rent-A-Car brand in North America. The company also operates the Enterprise Rent-A-Car brand in the UK, Germany and Ireland, and a licensee network that operates the National and Alamo brands throughout the Americas. Enterprise Holdings also recently acquired Citer SA in France and Atesa in Spain.
About Enterprise Holdings
Founded in 1957, Enterprise Holdings is the most comprehensive service provider in the car rental industry, operating – through its regional subsidiaries – the Alamo Rent A Car and National Car Rental brands as well as its flagship Enterprise Rent-A-Car brand in North America. Alamo, Enterprise and National – which swept Executive Travel magazine’s 2011 “Leading Edge Awards” for the top three car rental brands in the travel industry – collectively lead with more than one-third of all airport business in the United States and Canada. In addition to operating the Enterprise Rent-A-Car brand in the UK, Germany and Ireland, Enterprise Holdings also operates a licensee network managing the National and Alamo brands throughout the Americas.
Enterprise Holdings’ worldwide network includes more than 7,700 neighborhood and airport locations, with 6,000 offices located within 15 miles of 90 percent of the U.S. population – and more than twice as many locations as Enterprise Holdings’ nearest U.S. competitor. With annual revenues of $14.1 billion and more than 70,000 employees, Enterprise Holdings owns and operates more than 1.2 million cars and trucks, making it the largest car rental company in the world measured by revenue, employees and fleet. In addition, the company’s annual revenues place it near the top of the travel industry, exceeding many airlines and most cruise lines, hotels, tour operators and online travel agencies. Ranked No. 15 on the Forbes list of America’s Largest Private Companies, Enterprise Holdings is owned by the Taylor family and headquartered in St. Louis. Enterprise Holdings and its affiliates offer business and retail customers a total transportation solution, which includes hourly rental, car leasing, WeCar car sharing and Enterprise Rideshare vanpooling programs, as well as the Enterprise Car Sales, Enterprise Commercial Trucks and Enterprise Fleet Management business lines. For more information about Enterprise Holdings, visit www.enterpriseholdings.com. For more information about Enterprise Holdings’ Corporate Sustainability Report or the company’s environmental stewardship and long-term commitment to the sustainability of its business, visit www.DrivingFutures.com and follow @LeeBroughton on Twitter. This news release and other announcements are available at the Enterprise Holdings press room.