The logo of Didi Chuxing is seen at its headquarters in Beijing.
- Uber Technology Ltd.’s main Chinese rival on Monday said it is acquiring the U.S. ride-hailing service’s China operation in a deal that links the companies following a costly battle to attract riders.
- Didi Chuxing’s announcement marked the latest surrender by a foreign technology brand in the face of intense competition in China. Yahoo, eBay and others also have turned over local operations to Chinese partners or withdrawn.
- Didi Chuxing said it would take over all of Uber China and operate it as a separate brand. Uber will receive a stake in Didi Chuxing and Uber founder Travis Kalanick will join the Chinese company’s board while Didi Chuxing founder Cheng Wei joins the Uber board, it said.
- “This agreement with Uber will set the mobile transportation industry on a healthier, more sustainable path of growth at a higher level,” Cheng said in a statement.
No comments:
Post a Comment