A Joint Venture Set up by ExxonMobil, Tencent and Tuhu

Shanghai Fuchuang Industrial Development Co., Ltd., a joint venture among Exxon Mobil and its dealer Fuxiao Investment Company as well as Tencent and Tuhu, was put into service formally in March.

As a digital, integrative and professional provider of automobile maintenance service, Fuchuang was registered and founded with registered capital of 1.35 Billion Yuan in Shanghai Free Trade Zone in January this year. By intelligent digital platform, Fuchuang will provide its clients with integrated supply chain (S), traditional store business (B) with upgrade and optimization of retail network and the end-consumers (C) with convenient all-channel automobile maintenance experiences, thus building a new automobile maintenance cycle with integration of upstream and downstream by bringing the S2B2C model to automotive aftermarket. Fuchuang has already had 40 major dealers at present. But with the establishment of dealer network, it will gradually expand to tens of thousands of service stores nationwide including reserve stores, approved stores and cooperative stores in the future according to the consumer needs and service categories.