Chinese ride hailing giant Didi Chuxing recently announced that it is tapping local taxi companies to further broaden its market in the local transportation sector. Didi Chuxing announced that it is planning to strike a deal with at least 50 taxi companies across 10 Chinese cities to improve their services and efficiency.

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Aside from tapping the local taxi sector, Didi Chuxing would also create a fund worth $15 million to accelerate the integration of ride hailing technologies into the local taxi industry.

In a statement, Didi founder and Chief executive officer Cheng Wei said, "Did's success today would not be possible without the support from our early taxi partners and millions of taxi drivers at the beginning."

Cheng added that Didi is committed to integrating the power of the Internet into the traditional taxi industry to boost efficiency and growth. Didi is planning to utilize its big data infrastructure to create a coordinated, intelligent request-dispatch system. This system would assign customer requests to the most suitable vehicle by taking into account complex variables such as distance, the driver's ratings, demand, and supply.

China is currently the biggest ride-hailing market in the world, and Didi Chuxing boasts of a 90 percent share of the massive and lucrative market. Didi claims that by integrating big data and Internet services into the local taxi industry, it would be able to deliver a more convenient service to customers while at the same time improving its driver's earnings.

TagsDidi, Didi Chuxing, Didi Chuxing news, Didi Chuxing taxi, Didi Chuxing taxi business, ride-hailing, china