Car service lists on New Third Board

The ride-hailing firm UCAR Technology Inc is to list on China's New Third Board, the national over-the-counter equity market for small and medium-sized enterprises.

By becoming the first listed chauffeured-car service company in the country, the company will be able to raise capital to battle market leaders Didi Kuaidi and Uber Technologies Inc for higher-end passengers.

When reached by China Daily on Thursday, the company didn't say when it will list on the New Third Board, but said it will "proceed with the listing process in accordance with related regulations".