U.S.-based ExxonMobil, one of the world’s largest producer and marketer of petroleum products and chemicals, Tencent, one of the largest Chinese provider of Internet value-added services (VAS) and online advertising services, Tuhu, China’s leading B2C e-commerce platform for automobile after-sales products and services, and a distribution holding company have agreed to form a joint venture to establish an integrated ‘supply to business to consumers’ car care network.
The joint venture will grow the Mobil-branded car care network in China and leverage the strength of all partners to provide a high-quality, branded, and digitally-enabled comprehensive car maintenance experience.
Expected to launch in the spring of 2020, the joint venture will create a digital automotive maintenance ecosystem that integrates suppliers and customers of Mobil-branded lubricants and other vehicle maintenance products and services. This will enable participating vehicle maintenance retail stores to provide consumers with convenient, high-quality and reliable services and quality Mobil products at ten thousands of Mobil-branded car care outlets and joint venture-certified partner stores.
Mobil™ offers a range of automotive manufacturer-approved passenger vehicle lubricants, fluids and car care products, including Mobil 1™ the world’s leading synthetic motor oil brand, the Mobil Super™ family of premium motor oils, and other lubricants and fluids for everyday driving through a very stable and strong distributor network and extensive retail business network.
“ExxonMobil continually strives to meet the growing demand for high-quality products and services in China,” said Song-Ping Teoh, ExxonMobil’s director for North Asia Pacific lubricants. “Along with our partners’ digital and technology expertise, this joint venture will leverage ExxonMobil’s innovative products and technologies, long history in the lubricant business and large network of local partners to provide customers in China with unmatched product and service quality.”
Tencent is optimistic about the long-term growth potential of China’s automotive aftermarket. Tencent is committed to harnessing the advantages of online traffic, technology and ecosystem, and to making full use of new technology for industrial applications, including implementing channel digitalization through the joint venture with ExxonMobil and Tuhu. In the process of continuous exploration of the industrial internet, Tencent hopes to provide consumers with brand new experiences, and enterprises with digital solutions.