Senmiao Technology (AIHS)

Its main revenue source is the automobile rental business, particularly short-term rentals to individual customers. These rental arrangements generally run for periods of no more than 12 months, giving customers access to vehicles without the longer commitment or upfront costs associated with ownership. Senmiao also leases and services new energy vehicles, positioning part of its business within China’s broader transition toward electric and lower-emission transportation.

Beyond direct rentals, Senmiao provides services connected to the car-buying process. These can include support for customers as they select, purchase, finance or manage vehicles, as well as operational and management services for partner platforms and other companies in the automotive services market. The company has also been involved in automobile financing and other supporting services that help connect consumers, vehicles and mobility platforms.

Senmiao’s business model is tied to demand for flexible vehicle access, ride-hailing and private transportation services in China. Its performance depends on factors such as vehicle utilization, rental pricing, financing conditions, regulatory changes affecting mobility platforms, and consumer demand for both traditional and new energy vehicles. The company is distinctive for operating at the intersection of car rental, vehicle transaction facilitation and mobility platform support rather than as a conventional automaker or dealership.