Alibaba unit launches new online financing service for prospective vehicle buyers
By Meng Jing | China Daily | Updated: 2014-07-24 07:16
Tmall.com, the business-to-consumer platform owned by Alibaba Group Holding Ltd, rolled out a financing service on Wednesday to help car purchasers in China get unsecured loans of up to 60,000 yuan ($9,606).
The new service underscored the Hangzhou-based e-commerce conglomerate's strong ambition to conquer a new sector - the online car market.
Tmall has gained fame mainly through the sales of clothes and shoes online.
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