A 30-year-old Chinese entrepreneur has made headlines by investing $210,000 in a luxurious Mercedes-Maybach for his ride-hailing business. Yuan, who started driving luxury vehicles in Beijing in 2019, revealed that a single trip with his Maybach can earn him over $700, approximately Rs 59,000.
Yuan’s Business Model
Yuan’s ride-hailing service focuses on quality rather than quantity, catering to high-end clients who pre-book his services. He averages about 40 orders per month, with earnings varying based on the trip details. Yuan operates a social media account titled ‘Old Yuan Drives a Maybach for Ride-hailing,’ where he shares his experiences and journey with nearly 120,000 followers.
Financial Details
The entrepreneur made a down payment of $93,000 for the Maybach, using $68,000 from his savings accumulated over six years in the ride-hailing industry. He financed the remaining amount through a five-year loan with monthly payments of $2,000. Yuan claims to save approximately 10,000 yuan (Rs 1.1 lakh) monthly while maintaining a comfortable lifestyle.
Expenses and Savings
Yuan’s monthly expenses include 3,000 yuan for fuel, 2,000 to 3,000 yuan for food, and 4,500 yuan for rent. Despite these expenditures, he manages to save a significant amount. ‘The best part is that I get to drive a Maybach at only 30 and still save close to 10,000 yuan a month,’ Yuan shared.
Public Reaction
Yuan’s story has sparked a lively debate online, with users questioning whether he is wealthy or not. Some have expressed surprise at the high fares charged for luxury ride-hailing services, with one user noting that a 5.5km ride in an S-class Mercedes costs nearly 300 yuan (US$40).
