Didi invests in used car trading website Renrenche

Two Chinese companies announced on Monday that Didi Chuxing will invest $200 million in Renrenche.com, besides directing more than 400 million users in the hope of further promoting the latter's fast growth.

The country's leading mobility service platform, Didi Chuxing, also will work with the used car trading website in product, technology, operation, business planning. And Renrenche.com may have its trading service provided to Didi mobile app users.

"Renrenche will enjoy a significant user advantage in future competitions, and the company will speed up development with the target on users' word of mouth," said Li Jian, CEO of Renrenche.com.

"We are going to forge China's largest and most trustworthy auto trading platform," Li said confidently.

The companies refused to disclose the share transfer detail.

Renrenche.com also announced the commencement of its used car festival, featuring a series of services, including fast sales service within three days.