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20
Jun
2017
China's 'Uber for trucks' eyes India's market potential

China's 'Uber for trucks' eyes India's market potential

20 Jun 2017

China's "Uber for trucks", having acquired a $1 billion valuation and more than 3.7 million users on its platform, is now looking at potential overseas markets including India's, company officials of the fast-growing online logistics firm have said.

Truck Alliance is one of China Inc's unexpected success stories this year, with a business model that brings the Uber ride-sharing principle to China's vast land freight industry. Land freight accounts for around three-quarters of the freight industry but just like India, it is grappling with inefficiency and an estimated 50 per cent rate of empty hauling - a problem that Truck Alliance solves by linking up millions of drivers returning home empty with orders through its smartphone app.

Having acquired a more than 50 per cent market share in China - its platform now has 3.7 million registered users out of the 7 million pool of inter-provincial truck drivers - the company is interested in overseas expansion, its vice president Chen Tianting told India Today.

Source: indiatoday


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