The valuation of UCAR, an affiliate of China’s largest car-rental business, CAR Inc., rose to $6.8 billion from about $5.6 billion in... HONG KONG—Meet an up-and-coming challenger in China’s ride-hailing market: UCAR Inc.Uber Technologies Inc.’s sale of its China operations to Didi Chuxing Technology Co. has opened up opportunities for smaller ride-hailing apps, and UCAR is quietly stepping up in the luxury end of the market.

Source: Wall Street Journal August 04, 2016 12:14 UTC