In brief: Didi targets new South American markets

Chinese ride-hailing giant Didi Chuxing is planning to take on US rival Uber in some of Latin America’s fastest-growing markets, recruiting managers in Chile, Peru, and Colombia, according to job postings and a company official.

Didi has moved senior executives from China to lead the expansion in those countries. In recent weeks, it began advertising for driver operations, crisis management, marketing, and business development personnel.

Source: Reuters

Didi already faces off against Uber in Brazil, South America’s largest market, where it acquired local ride-hailing startup 99 for a reported US$1 billion last January.

The Chinese company has also launched operations in Mexico, Japan, and Taiwan. It has also invested in Southeast Asia’s Grab.

Yesterday, Didi revealed that it plans to cut up to 15 percent of its staff after leaked financials indicated it racked up a US$1.6 billion loss last year.