According to reports in Chinese local media, Tencent-invested online ride-sharing platform OnTime will be launched later this month, making it the latest player in the Chinese ride-sharing market.

It is said that OnTime will first provide services in Hong Kong and gradually expand to the entire South China region. Before its formal launch, users can get an OnTime car for CNY0.01 in Guangzhou.

Apart from Tencent, OnTime's other investors include Guangzhou Automobile Group and Guangzhou Public Transport Group.

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