Alibaba enters car-hailing business

Deal with UCAR comes as the online ride-booking market is growing rapidly

Alibaba Group Holding Ltd on Monday reached a strategic partnership with China's third-largest car-hailing company UCAR Technology Inc, a move that enhanced the influence of the internet giant in the booming segment.

The partnership will include online shopping, digital marketing, high-accuracy navigation and the development of smart vehicles, according to a joint-announcement from the two companies.