Chinese online car platform Autohome expects data products to drive growth as it works closely with NIO, Xpeng and Li Auto
- Ping An Group-backed Autohome’s shares rose 2.1 per cent to close at HK$180.00 on debut
- Autohome plans to use the share sale proceeds for product development, incubate new businesses and upgrade the technologies it uses
Autohome, an online platform for buying and selling cars, expects new businesses like data products to drive growth as it tracks the country’s booming electric vehicles (EV) market.
“China’s EV market is still at an early stage, however, we are seeing an inevitable trend here with such strong growth,” chief executive Long Quan told the Post in an interview on Monday, following the company’s secondary stock listing in Hong Kong.
Long said that the company has been working with leading Chinese EV start-ups, including NIO, Xpeng and Li Auto, offering them its data products like software-as-a service solution that can help to boost the rate of customer conversion among potential EV buyers.
The online car marketplace plans to use the proceeds for product development, incubate new businesses and upgrade the technologies it uses, such as augmented reality and virtual reality.
