(Yicai Global) Nov. 22 -- BMW may become the first foreign automaker to offer ride-hailing service in China. 

The Munich-based firm's  Chinese unit has obtained a license to offer online taxi services and  car rental in the city of Chengdu in western Sichuan  province, state-backed The Paper reported. The Chengdu-based unit has a  registered capital of CNY50 million (USD7.2 million). 

The Chinese ride-hailing  market is red hot with new competitors to Didi Chuxing which has  dominated the scene for many years. State-backed SAIC announced this  month that it will start its own car-sharing brand, Xiangdao Chuxing.  Daimler and Geely Holding Group have also tied up for the purpose, as  well as Zotye Auto and Ford Motor. 

Editor: Emmi Laine