A 30-year-old Chinese entrepreneur has made headlines for investing $210,000 in a Mercedes-Maybach for his ride-hailing business. Yuan, who began driving luxury vehicles in Beijing in 2019, claims to earn over $700 from a single trip with his high-end clientele.
The Business Model
Yuan’s ride-hailing service focuses on quality rather than quantity, catering to pre-booked, high-end clients. He averages 40 orders per month, with some trips generating more than $700. “Driving a luxury Maybach ride-hailing car is not only my job but also my livelihood,” Yuan explained in a video.
Financial Details
The entrepreneur made a down payment of $93,000, 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 repayments of $2,000. Despite expenses like fuel (3,000 yuan monthly) and rent (4,500 yuan), Yuan claims to save nearly 10,000 yuan ($1,400 USD) each month.
Online Reaction
Yuan’s story has sparked lively discussions online, with users questioning whether he is considered rich 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 ($40 USD).
Yuan’s unique profession has attracted nearly 120,000 followers on his social media account, where he shares his daily experiences driving the luxury vehicle. His success story highlights the lucrative nature of catering to high-end clients in China’s ride-hailing market.
