Didi Chuxing ploughs in $6 billion into its ride-hailing business

Although Didi has got big names backing it, in China, Didi it is increasingly facing regulatory issues.

Bloomberg has reported citing people familiar with the matter at hand, Didi Chuxing, a Chinese ride-hailing firm, is weighing its options to invest $6 billion into its business, as it looks to take on global rivals such as Uber Technologies Inc.

Didi Chuxing is backed by Japan’s SoftBank Group Corp as well as Tencent Holdings Ltd and Apple Inc.

However, the Chinese company is facing regulatory challenges at home over its drivers even as it looks to diversify from its core ride-hailing business to new areas for growth.

Last year, following a ferocious two-year battle with Uber in China, Didi Chuxing acquired Uber’s China unit and created a merged entity that was then worth approximately $35 billion. Uber had taken a one-fifth stake in the new company.

A spokesman for Softbank declined to comment.

Didi did not immediately respond to requests for comment.



Categories: Creativity, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy, Sustainability

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