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Doris Yu · · 1 min readSources: SoftBank-backed ride-hailer Didi Chuxing to expand into Europe
“Chinese ride-hailing giant Didi Chuxing Technology plans to make its debut in Western Europe, as the company seeks new growth markets ahead of a long-awaited initial public offering,” reported Mint, citing people familiar with the matter.
Details:
- The SoftBank-backed company is considering launching its ride-hailing services in the UK, France, and Germany within the first half of 2021, and is already hiring locally in the European market, according to two sources.
- It may also roll out offerings like food delivery and errand services, depending on market demand.
Context:
- Didi Chuxing now operates in 13 countries, with most of them in Latin America.
- The expansion plan comes after the ride-hailer has faced slower growth in its home market and as Chinese regulators heighten their scrutiny of internet platforms.
Editing by Collin Furtado and September Grace Mahino
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