Alibaba-backed Chinese car trading platform SouChe acquires rival Cheyipai

Alibaba-backed Chinese car trading platform SouChe acquires rival Cheyipai

SouChe, a Chinese automotive platform backed by several investors including Ant Financial and Alibaba, announced that it has acquired used car marketplace Cheyipai.

In an announcement, SouChe said, Cheyipai will be operated independently under its original brand, team, and organizational structure.

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