Volkswagen New Mobility Services Investment Co Ltd said on Monday that it has successfully acquired the Shanghai Zhenlang Transportation Equipment Leasing Co and will officially establish car rental operations across China.

According to the company's General Manager Peter Tempich, the acquisition of Shanghai Zhenlang is an important first step in the company's rental business operations in China.

In the second step, it plans to gradually set up car rental stations in all major cities in the country, providing long-term rental and leasing services aimed at corporate clients, said Tempich.

Since its foundation in November 2011, the service company under German automaker Volkswagen AG has concentrated on investments in long-term rentals, after sales services and alternative mobility solutions, such as corporate car sharing and e-mobility services.