Uxin's Strategic Partnership: A Boon for Wuhan City's Used Car Market

Uxin Limited, China's leading used car retailer, has announced a strategic partnership with Wuhan City Economic & Technological Development Zone (WEDZ). This collaboration, aimed at establishing a new used car super store in Wuhan City, Hubei Province, is set to significantly enhance Uxin's market share and promote the development of the automotive aftermarket industry in the region.

The joint venture between Uxin and Wuhan Junshan, a company indirectly controlled by WEDZ, will see Uxin (Anhui) Industrial Investment Co., Ltd. contributing RMB66.7 million, and Wuhan Junshan contributing RMB33.3 million. This represents approximately 66.7% and 33.3% of the joint venture's total registered capital, respectively.

Wuhan City, with a permanent population of approximately 12 million and a GDP of around RMB2.0 trillion, has a car volume of over 4 million, making it one of the major automotive markets in China. The formation of this joint venture is a key collaboration for Uxin, as it seeks to expand its market presence and build a leading brand in China's used car industry.

The partnership aligns with Wuhan City's economic development strategies, as it aims to promote the development of the automotive aftermarket industry in the Hubei Province. The new used car super store will offer high-quality and value-for-money vehicles, as well as superior after-sales services through a reliable, one-stop, and hassle-free transaction experience.

Uxin's investment in the intelligent automotive industrial base in the WEDZ will further enhance its market position in the region. The base will provide repair, storage, display, trading, transfer, and after-sales services, supporting brands such as Dongfeng Fengshen, Dongfeng Nissan, and Dongfeng Voyah.

The partnership with WEDZ will help Uxin to promote the development of the automotive aftermarket industry in the Hubei Province, as well as build a leading brand in China's used car industry. This strategic collaboration is expected to drive Uxin's market share growth in the region and contribute to the healthy development of the used car industry.