Eager Investors Fueling Car-Hire Competition

(Beijing) – Car-hire mobile application companies Didi-Kuaidi and Uber Inc. have added a high-stakes, off-road element to their battle for China's urban travelers by competing head-on for investor cash.

Insurance companies, Internet giants and the Chinese government's sovereign wealth fund are among the deep-pocket investors tapped in recent months to finance the app-based taxi alternatives available in dozens of Chinese cities.