Car8.com and MERCURY are pleased to announce a new 3-years strategic partnership agreement valued at $6 million. Under the agreement, Car8.com will partner with MERCURY team on its IT application development, operating infrastructure and platform management.
The key objective is to accelerate its ongoing digital transformation by evolving its business model to further contribute to solutions.
Car8 shall revamp and provides a range of services across the entire car ownership ecosystem. These include financing solutions, innovative insurance products, membership platform, flexible car ownership experience and after-sales services. Car8 aim to lead the automotive and mobility solutions market by providing a better experience, democratising information and advancing the automotive industry through advance technology.
To be the marketplace of choice for all automotive needs, Car8 shall provide a platform for suppliers, vendors and service provider to serve their customer better. Car8 shall catalyse change in the automotive ecosystem by driving higher standards, reshaping the industry with revised technology solutions and empowering everybody with the experience they deserve.
MERCURY and Car8.com will jointly develop its strategic IT development as well as management and development of all digital applications and services related to the company's core business of providing automotive eco system related solutions for businesses and consumers.
“This agreement will further contribute to finding the operational and business efficiencies that make up part of our Return to Growth plan, In this manner, we’ll be able to focus our IT investments and resources on activities and technologies that afford us distinctive and competitive market advantages. We’re pleased to be able to partner with a technology leader, and keep these quality digital positions and opportunities within the province.” said Cahill Kei, CEO & Co-founder , Car8.com.
“Our focus will be on driving significant improvements and cost savings across its IT operations, in order to invest more resources into the continued growth of their digital business.” said James Huang, Business Architect, MERCURY.
Car8.com currently is the second largest automotive platforms in Hong Kong and shall provides a full-stack service for all aspects of car ownership and uses AI-powered technology to transform the car buying and selling experience. By offering a trustworthy and transparent experience, Car8 provides an integrated car purchase/ selling solution through proprietary pricing algorithm and AI-enabled capabilities.