Hangzhou Kuaidi Technology Co. will be adding high-end cars to its taxi services in China to increase revenues and compete with Uber Technologies Inc and Didi Taxi.

The company’s latest smartphone application is designed to target well-off tourists who seek luxury as they travel.

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According to Kuaidi CEO Dexter Lu, collaborative efforts between the company and chauffeur companies in Shanghai, Beijing, and Guangzhou are being carried out.

New vehicles to be added to their lineup of taxi services include the A6 model of Audi AG and General Motors' Buick GL8.

Referred to as Yi Hao Zhuan Che or "Prime Special Cars" in English, this new phone app is a part of Kuaidi's approach to attract 500 million mobile phone users in China who browse the Net daily and rely on location-based services.

According to an online statement released by the company, Kuaidi receives three million orders for taxi services on a daily basis, which can be attributed to the hundreds of millions of customers who use their current taxi booking app, Kuaidi Dache.

The company will be collaborating with transport companies that provide five-star hotel services. Through this, a commission will be paid to Kuaidi worth at most 25 percent of the overall charge for every trip.

One of the company's strongest competitors, American company Uber, continues to expand in China and targets customers who are keen on paying a high price for certain car-related privileges, such as phone charging and access to Wi-Fi inside the vehicle.

Alibaba, the largest e-commerce operator in China, remains a stakeholder in Kuaidi. The two companies have refused to specify the range of this new investment.

It has been preferred that an initial offering for the public be carried out by Kuaidi as opposed to being acquired fully.

TagsKuaidi, Uber, Didi Taxi