Caixin
Caixin Global – Latest China News & Headlines

Home >

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.