Ismawati Asmat 7 Jan, 2020
To offer services in Paris, the company said it will use battery-powered vehicle produced by Geely subsidiary London Electric Vehicle Company.
Caocao was developed by Hangzhou YouXing Technology Company and is the first Chinese domestic new energy-focused mobility service.
User penetration in France for ride-hailing services is forecast to be 12.3% this year and grow to 16.2% by 2023.
Amid the intensely competitive domestic market for the ride-hailing industry, many Chinese companies are eyeing international expansion for future growth.
Before launching the trial service in Paris, Caocao last August sent a team to conduct market research there.
After doing more research on the location of charging stations and local policies in the target countries, Caocao will expand its electric-car service to more countries in the future.