CHINA TOPIX

11/21/2024 10:05:55 pm

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China's Ride-sharing Giant Didi Chuxing to Go Global

Chinese ride sharing giant Didi Chuxing has plans to go global.

(Photo : https://pixabay.com/en/taxi-vehicle-road-city-urban-cars-1209542/) Speaking at Vanity Fair’s New Establishment Summit, the company president Jean Liu said that the company intends to go to the global markets and collaborate with local players.

Chinese ride-sharing giant Didi Chuxing has plans to go global and it is now drawing some strategies to achieve this goal.

Speaking at Vanity Fair's New Establishment Summit, company president Jean Liu said that the company intends to go to the global markets and collaborate with local players. However, if the company cannot find local businesses, then it will choose to venture on its own.

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Didi Chuxing is steadily growing, both organically and through collaborations.

In May this year, the company received $1 billion worth of investment from Apple. Three months later, Didi Chuxing bought its arch rival Uber China to form a joint entity. Around the same time, Didi Chuxing attracted another round of funding, this time from Foxconn, which invested $119.9 million in the ride-sharing company.

However, Didi Chuxing did not elaborate upon its collaboration with Apple. It alluded to the use of Siri in the cars in network.

The company referred to the importance of growing China market to the US tech giant. As a major player in the market, Didi Chuxing is in position to have mutually beneficial relationship with Apple.

Didi Chuxing is believed to handle more than 20 million rides a day in China.

Company president Liu said the ride-sharing industry is still in its nascent stage. The company holds investments in Ola, the largest car-hailing company in India. Similarly, it also poured investment in Grab, which offers similar services in southeast Asia. The company had collaborated with Softbank to infuse $600 million in Grab.

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