Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

China's Didi Chuxing to allow app users to access rivals' services

share with twitter share with LinkedIn share with facebook
share via e-mail
07/15/2019 | 04:47am EDT
The logo of Didi Chuxing is seen at a Didi station in Beijing

BEIJING (Reuters) - China's biggest ride-hailing company Didi Chuxing will allow users of its smartphone app to access services provided by apps of three domestic auto firms and others, in a push to generate more orders.

Didi said in a statement on Monday it has opened its ride-hailing platform to third parties including those of FAW Group, Dongfeng Motor and Guangzhou Automobile Group (GAC).

Passengers can order ride-hailing services from FAW, Dongfeng and GAC from Didi's app, which has 550 million registered users in China.

The move accelerates a trend in China where automakers are launching their own ride-hailing services, while ride-hailers such as Didi are teaming up with automakers to ultimately develop purpose-built cars for their services.

FAW, Dongfeng and Chongqing Changan Automobile set up a $1.5 billion Chinese ride-hailing venture with Alibaba, Tencent and retailer Suning earlier this year.

Car makers including Geely [GEELY.UL], SAIC and BMW have their own ride-hailing services in China, though some of them are regional services.

Didi will leverage its strength in artificial intelligence, operational expertise and marketplace strategies to help partners build capacities for connected vehicle operations, the statement said.

China is home to the world's largest ride-hailing market, estimated by consulting firm Bain & Co to be worth more than $20 billion in 2016. Didi Chuxing accounted for about 90 percent of all bookings.

(Reporting by Yilei Sun and Norihiko Shirouzu in Beijing; Editing by Muralikumar Anantharaman)

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING 2.11% 178.28 Delayed Quote.30.06%
BMW AG -0.22% 60.25 Delayed Quote.-14.63%
BMW VZ -0.85% 48.78 Delayed Quote.-20.81%
DONGFENG MOTOR GROUP CO. LTD 1.46% 6.93 End-of-day quote.-2.39%
SAIC MOTOR CORPORATION -0.98% 24.26 End-of-day quote.-7.99%
SUNING.COM CO LTD End-of-day quote.
TENCENT HOLDINGS LTD 3.19% 336.8 End-of-day quote.6.99%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Companies"
08:29aBANKPOINT : announces release of new Treasury Pipeline solution for banks
08:28aALIBABA : opens doors to Bangladeshi SMEs for mega B2B sourcing event
08:28aDeep Down Receives Kaikias Riser Isolation Valve System Order
08:28aGENERAL MILLS : Announces Changes to Senior Leadership Team
08:27aCORNERSTONE CAPITAL RESOURCES : 19-26 - Bramaderos Main drilling results define areas of higher-grade gold and copper within large porphyry system - Further drilling will aim to extend these higher-grade zones
08:27aHERSHEY : Online Portal Adds Product Ordering to Help Convenience Store Retailers Maximize Sales and Profits
08:27aLOCAL SHOPPING REIT : Result of General Meeting
08:27aCARNIVAL : AIDA Cruises and battery supplier Corvus Energy announce cooperation and ring in electrification of the cruise industry
08:27aMEDTRONIC : Q1 FY20 Release
08:27aAXAMANSARD INSURANCE : AXA Mansard grows half-year funds to N22.5b
Latest news "Companies"