Date
11 December 2016
Jean Liu says Didi Chuxing is aspiring to be a global company. It is targeting global markets where it can compete or cooperate with domestic players. Photo: Reuters
Jean Liu says Didi Chuxing is aspiring to be a global company. It is targeting global markets where it can compete or cooperate with domestic players. Photo: Reuters

Chinese ride-hailing firm Didi targets global markets

Didi Chuxing Technology Co. is expanding beyond China and setting its sights on new global markets.

Company president Jean Liu said Didi Chuxing aspires to be a global company, according to the Wall Street Journal.

Didi may collaborate with or compete with incumbent ride-sharing companies, Liu said.

If Didi sees a market where the local company isn’t strong, Didi will compete, she said.

Liu said Didi made about US$20 billion in gross bookings on an annual basis in September and now hosts 20 million rides a day in 400 cities.

Like rival Uber Technologies Inc., Didi takes a small cut of those bookings from its drivers as revenue.

But unlike Uber, which has expanded around the world, it has largely remained focused on China.

The company now has Uber as its largest shareholder after Uber sold its China business to its rival earlier this year.

The two had been competing fiercely in Didi’s home market before Uber ultimately succumbed.

“It was a hard game, but we had fun,” Liu said.

She dismissed the idea that Western technology firms cannot compete on a level playing field in China, pointing to Apple Inc. and International Business Machines Corp.as examples of US companies finding success in the world’s largest country, according to WSJ.

Underscoring Didi’s complex relationships, the company also is a partner with Uber’s rival in the US, Lyft Inc., after signing a partnership that lets users of each app hail drivers from the other company’s app when traveling in their respective countries.

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