Car sharing company TOGO upgrades mobile app, fleet

TOGO, one of the leading companies in China's budding car sharing industry, upgraded its mobile application to 2.0 version and included a higher-end car model of Audi A3 into its fleet on Tuesday after completing its B round of financing.

With the newly added radar push function, users of TOGO app can set a radar area, ranging from 200 to 600 meters, for their current location with a time frame of within 24 hours. When the setting is completed, if there is any available vehicle within the radar area, the app will send users a reminder of cars available.

The upgrade also integrated a member center with six membership levels. Users can enhance the membership level through the cumulative consumed mileages on a quarterly basis.

TOGO also announced its further expansion plan of branching into tourist and capital cities like Chengdu, Nanjing and Xi'an after establishing offices in the four super cities of Beijing, Shanghai, Guangzhou and Shenzhen.

It's also confirmed by Wang Lifeng, TOGO’s CEO, that the company attracted $22 million with SIG taking the lead in investment in its B round of financing.

Huashenghaoche, an online car retailer, also agreed to give TOGO a credit of 300 million yuan ($45.3 million), which is roughly equivalent to 5,000 cars after entering into strategic partnership with TOGO.