Toronto, Ontario – (Newsfile Corp. – January 6, 2022) – Tenet Fintech Group Inc. (CSE: PKK) (OTC PINK: PKKFF) (“Tenet” or the “Company”), an innovative Fintech and AI service provider and Manager of the Business Hub ™, today announced that it has signed a strategic cooperation agreement with eHi Auto Services Ltd. (“EHi”). With a fleet of over 100,000 vehicles and over 5,000 service points in over 400 cities, eHi (https://en.1hai.cn/) ranks only behind Car Inc. on the list of largest companies. rental cars from China.
According to Reuters, the Chinese car rental services market is expected to grow 60% to nearly US $ 23 billion in 2023, from US $ 14 billion in 2021. As one of the country’s major players in the industry space, eHi is expected to capture a significant portion of this market. Marlet. Tenet will leverage its Heartbeat insurance platform and the platform’s direct link with the country’s major insurers to offer the various insurance products to accompany vehicles leased by eHi. The parties will also work to develop new insurance products customized to meet eHi’s specific needs, including products for electric and hybrid vehicles which are rapidly gaining popularity as China continues to push forward with its green initiatives. In addition to helping provide insurance products for eHi’s car rental fleet, Tenet’s partnership with eHi will also allow the company to take advantage of its recent partnership with the vehicle exchange platform. used YouCKU to allow eHi to use the YouCKU platform to buy and sell vehicles as eHi continuously updates its fleet. As always, Tenet’s Business Hub should be at the center of these transactions to match buyers and sellers, to organize financing, transfer and settlement of payments, delivery of products and just about everything else related to sales. transactions.
A unique aspect of the partnership announced today is that in some ways it extends beyond China’s borders. The fact that Enterprise Holdings (“Company”) is a major shareholder of eHi and that the two companies have established a strategic partnership that enables eHi to provide car rental services to Chinese consumers and overseas businesses, means that some services sold through Tenet in China will also extend beyond the country. Enterprise is the parent company of U.S. car rental companies Enterprise Rent-A-Car, National Car Rental, and Alamo Rent a Car, and Canadian car rental agency Discount Car and Truck Rentals, making Enterprise the one of the largest car rental companies in the world. with more than 10,000 sites worldwide and a fleet of more than 2,000,000 vehicles. As Tenet begins to expand its operations globally, its partnership with eHi could end up paying dividends far beyond China’s borders.
About Tenet Fintech Group Inc .:
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence companies. Tenet subsidiaries provide various analytics and AI services to financial institutions and enterprises through the Business Hub ™, an ecosystem where data analysis and artificial intelligence are used to facilitate transactions among its members. For more information: http://www.tenetfintech.com
For more information please contact:
Capital markets in CHF
Cathy Hume, CEO
416-868-1079 ext: 251
MZ Group – MZ North America
Mark Schwalenberg, CFA
Principle Fintech Group
Barry Ellison, Director of Marketing and Communications
514-340-7775 ext: 521
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Forward-looking statements / information:
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