Auto firms rev up ride-sharing sector

Three State-owned Chinese automakers are planning to jointly establish a venture to launch a ride-sharing platform, known as T3 mobile travel services.

The move came after FAW Group Corp, Dongfeng Motor Corp and Chongqing Changan Automobile Co signed a strategic deal last December to develop technologies, optimize full-value chain operation, expand global markets and devise sales modes for the sharing economy.

The new venture will bring in partners from other industries to offer Uber-style services and seek to make use of burgeoning intelligent driving technologies to provide safer and more efficient services for users.