Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Like the U.S., China Has Its Own College Admissions Problems
After Food Scandal, New Rule Requires School Officials to Dine With Students
People’s Daily Head Leaves for High-Level Position at Beijing’s Liaison Office in Hong Kong
LATEST
China to Draft Value-Added Tax Law This Year
China Construction Bank Names New President
China High-Level Economic Forum to Focus on Opening Up
China Telecom to Invest 9 Billion Yuan in 5G This Year
People’s Daily Head Leaves for High-Level Position at Beijing’s Liaison Office in Hong Kong
Xiaomi Swings to Profit Amid Lackluster Smartphone-Industry
After Food Scandal, New Rule Requires School Officials to Dine With Students
Like the U.S., China Has Its Own College Admissions Problems
Swine Flu Prevention Moves to the Slaughterhouse
China’s Securities Watchdog Receives 22 Fund Applications Targeting High-Tech Board
Stock Nosedives for Shenzhen Software Company After Activist Dubs It Bubble
Teenage Son Kills Mother to End Her ‘Harsh’ Discipline
China’s New Nasdaq-Style High-Tech Board Starts Taking Applications for IPOs
Chinese Dairy Leader Purchases New Zealand’s Major Milk Supply Co-Operative
New Income Tax Law Takes Bite From Government Coffers
Xi’an Bucks National Real Estate Trends as New-Home Prices Keep Rising
ByteDance Ventures Further Into Gaming Market
'Missiles' Are Shooting Trouble Into China’s Underground Lending Market
Popular WeChat Account Valued at 2 Billion Yuan Snapped Up By Education Firm
China Increases U.S. Treasury Holdings for Second Straight Month

By Coco Feng / Nov 12, 2018 12:36 PM / Business & Tech

Photo: VCG

Photo: VCG

Leading Chinese auto group SAIC Motor said Monday that it would launch a ride-hailing service, just weeks after Daimler AG and its Chinese partner Geely made a similar announcement — moves that will ramp up competition in a sector long dominated by local giant Didi Chuxing.

China's other big three state-owned automakers all have ride-hailing initiatives in the works.

They are tapping an industry that totals about $23 billion, according to consultancy Bain & Co., more than the rest of the world combined. Industry leader Didi has run into problems this year, notably a passenger security crisis resulting from multiple riders being raped and two being murdered by their drivers.

Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.