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Senmiao Technology Limited (NASDAQ:AIHS) on Friday announced a strategic partnership with Changsha Yipeng Information Technology Co., Ltd. to develop an AI-backed data management system to improve efficiency of online ride-hailing management platforms.
The system will leverage Senmiao’s historical data on drivers, vehicles, and riders to improve fleet efficiency and service safety. Changsha Yipeng, with over a decade of experience in AI and data systems, will lead the platform’s development.
The two companies will also pursue joint funding to support the project’s rollout.
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“Following the recent sale of our ride-hailing platform, we’ve been looking for new ways to monetize our large data assets,” said Xi Wen, Chairman and CEO of Senmiao. “This partnership helps us unlock that value through advanced AI capabilities.”
With this move, Senmiao is shifting toward becoming a tech enabler for mobility service providers, focusing on data-driven solutions rather than platform operations.
On Thursday, Senmiao Technology signed a strategic agreement with Qinhong International Group to expand its presence across China and access new financing channels.
The partnership aims to leverage shared customer networks and financial relationships to support growth and increase revenue opportunities for both companies.
Related ETFs: Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV), First Trust Nasdaq Artificial Intelligence ETF (NASDAQ:ROBT).
Price Action: AIHS shares are trading lower by 43.72% to $0.58 premarket at last check Friday.
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