Uber China unit gets investment from HNA Group in new partnership

Reuters News
|
Posted: Jan 11, 2016 4:11 AM

BEIJING (Reuters) - Uber Technologies Inc [UBER.UL] said on Monday its China unit will get an undisclosed amount of investment from Chinese firm HNA Group as part of a new partnership with the aviation and shipping conglomerate, giving the U.S. ride-hailing firm fresh cash as it competes with larger domestic rival Didi Kuaidi.

In a statement, Uber's Chief Executive Travis Kalanick said the alliance aims to "make global and local travel even simpler and more convenient".

Uber's partnership with HNA Group comes as it and rival Didi Kuaidi vie to forge ties with influential Chinese companies. Both are seeking allies with long-established ties to government as they try to avoid aggravating regulators in China's still developing ride-hailing business.

(Reporting by Paul Carsten; Editing by Kenneth Maxwell)