Ride-Hailing Giant Didi Confirms Rival Uber's Plan to Join Forces
(Beijing) – China's largest ride-hailing company Didi Chuxing confirmed plans to merge with its major rival Uber China on August 1, ending years of intense competition between the two for a stake in the country's growing Internet-based car-hiring industry.
The merger of Didi and Uber Technologies Inc.'s Chinese arm would create a new juggernaut in the domestic market valued at US$ 35 billion with Didi Chuxing's US$ 28 billion and Uber China's US$ 7 billion, multiple sources told Caixin.
- 1China’s Moon Explorer Posts Photo of Sprouting Cotton Plant
- 2Huawei Canada Exec Quits as Scandal Continues to Embroil Company
- 3Luckin Coffee Reportedly Seeks IPO in Hong Kong
- 4Bank of China to Test Waters for Perpetual Bonds
- 5Apple Chief Counsel Accuses Qualcomm of Holding Phone-Makers for ‘Ransom’
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas