Core Insights - The domestic bike-sharing giant Hello has launched an electric vehicle rental service called "Xiao Bei Rent Car," while another player, Dalu Rent Car, is also testing the electric vehicle rental business [1][3] Group 1: Company Developments - Hello has expanded its electric vehicle rental business to major cities in China and is currently in the exploration and expansion phase [1] - The "Xiao Bei Rent Car" service was officially renamed on November 11, following the initial launch of bike rental services in January and the brand "Blueberry Cycling" in March [3] - The rental service has over 2,000 locations across the country, offering options such as hourly, daily, weekly, monthly, and quarterly rentals [3] Group 2: Service Features - Xiao Bei Rent Car offers a no-deposit rental model, with services available through a WeChat mini-program [3] - Users can choose between "pick up at store" and "delivery to door" services, with the latter requiring an additional service fee [3] Group 3: Company Background - Hello was established in September 2016 and is headquartered in Shanghai, initially starting with bike-sharing services [3] - The company now provides a range of mobility services, including two-wheeled and four-wheeled transportation, and has ventured into the Robotaxi sector [3] - Hello has accumulated over 800 million registered users to date [3]

Core Insights - The article discusses the entry of major players in the electric vehicle (EV) rental market in China, specifically focusing on Hello's "Xiao Bei" rental service and Dalu's rental service, indicating a shift from bike-sharing to EV rentals as a new growth area in the shared mobility sector [1][19]. Company Developments - Hello has launched its EV rental service "Xiao Bei" in major cities across China, while Dalu is piloting its service in Dongguan, Huizhou, and Shenzhen [3][6]. - Xiao Bei offers a more mature service model compared to Dalu, having evolved from a bike rental service to a dedicated EV rental service with over 2,000 rental points [7][8]. - Dalu's rental model includes features like no deposit and insurance, with a focus on various rental scenarios such as apartments and tourist spots [10][14]. Business Models - Both companies target urban short-distance travel needs, with a focus on commuting and daily transportation, capitalizing on the growing demand for dedicated mobility solutions in congested cities [6][15]. - Xiao Bei's model includes self-operated and franchise rental options, while Dalu relies on a franchise model to expand its rental points [15][19]. - Xiao Bei provides flexible rental periods and home delivery services, while Dalu offers a straightforward rental process through its app [10][14]. Market Trends - The demand for EV rentals is driven by cost-effectiveness compared to purchasing vehicles, especially for C-end users who face high upfront costs and ongoing maintenance [16][17]. - The rise of delivery riders, with over 13 million expected by 2025, has significantly increased the demand for rental EVs, with 40% of riders opting for rentals [17][18]. - The market for EV rentals is projected to grow significantly, with estimates suggesting it could reach several billion dollars by 2024 [18]. Competitive Landscape - The entry of major players like Hello and Dalu is accelerating competition in the EV rental market, shifting the focus from price competition to service quality and network density [19][20]. - Smaller rental businesses may struggle to compete against larger platforms that can leverage economies of scale and established user bases [20][21]. - The future of the EV rental market may see a bifurcation between large platforms focusing on scale and smaller players offering niche services [21].