BMW and Daimler have unveiled a joint venture to invest in new-generation services such as driverless vehicles, ride-hailing and parking services. The German firms are investing €1bn (£880m) in the project, which will also look into pay-per-use car schemes. The move comes as traditional manufacturers face competition from mobility services provided by Uber and other… Continue reading BMW and Daimler invest €1bn in tech venture
Tag: Didi
UPDATE 1-Daimler, BMW to invest 1 bln euros in venture to rival Uber
Harald Kruger, CEO and Chairman of the Board of Management of BMW AG and Dieter Zetsche, CEO of Daimler AG, shake hands at a news conference to present plans for combining the companies’ car-sharing businesses, in Berlin, Germany, February 22, 2019. REUTERS/Axel Schmidt BERLIN (Reuters) – German carmakers Daimler and BMW unveiled a joint ride-hailing,… Continue reading UPDATE 1-Daimler, BMW to invest 1 bln euros in venture to rival Uber
On-demand logistics startup Lalamove raises $300M for Asia growth and becomes a unicorn
Lalamove, a Hong Kong-based on-demand logistics startup, has closed a $300 million Series D round as it seeks expansion across Asia. In doing so, the company has officially entered the unicorn club. Founded in 2013 by Stanford graduate Shing Chow, Lalamove provides logistics and delivery services in a similar style to ride-hailing apps like Uber… Continue reading On-demand logistics startup Lalamove raises $300M for Asia growth and becomes a unicorn
China ride-hailing giant Didi to lay off 15% employees this year: Source
Didi Chuxing will lay off 15% of its staff or about 2,000 people this year, a source said, marking the ride-hailing firm’s first major cut back as it grapples with regulatory scrutiny and public backlash over the murder of two of its users. Didi CEO Cheng Wei said at a meeting with management that the… Continue reading China ride-hailing giant Didi to lay off 15% employees this year: Source
Uber posts $50 billion in annual bookings as profit remains elusive ahead of IPO
SAN FRANCISCO (Reuters) – Uber Technologies Inc had $50 billion in total bookings for its ride-service and food-delivery businesses last year, a testament to the size and global reach of the company as it prepares to woo investors in one of the biggest public stock listings to date. FILE PHOTO: Uber’s logo is displayed on… Continue reading Uber posts $50 billion in annual bookings as profit remains elusive ahead of IPO
China’s Didi is laying off 15% of its staff
China’s largest ride-hailing firm Didi plans to let go 15 percent of its employees or about 2,000 people this year, sources told TechCrunch. The cut comes as the beleagured transportation giant copes with a stricter regulatory environment that puts a squeeze on driver supply and backlash from two high-profile passenger murders last year. Chief executive Cheng… Continue reading China’s Didi is laying off 15% of its staff
In brief: Didi to layoff 15% of its staff: sources
The Chinese firm wants to focus on its core mobility services and cut business units that are not critical to its main ride-hailing business. Go to Source
China’s Didi just announced a new joint venture to work on electric and hybrid vehicle projects
Zhang Peng | LightRocket | Getty Images
A user holding a smartphone with a Didi Chuxing app.
China's largest ride-hailing operator, Didi Chuxing, said Monday it had entered into a joint venture with a unit of BAIC, China's state-owned autos giant.
The joint venture between Beijing Electric Vehicle and Didi, called BAIC-Xiaoju New Energy Auto Technology, will work to develop “next-generation connected-car systems” through projects related to electric and hybrid vehicles and artificial intelligence.
In recent years, Beijing has aggressively pushed for so-called new energy vehicles as a way to curb air pollution. Those include passenger cars and other types of vehicles that run either purely on battery or is a plug-in hybrid electric vehicle.
BAIC has said it plans to stop manufacturing and selling gas-driven car models by 2025.
For its part, Didi said it has close to 400,000 new energy vehicles registered on its platform, many of which are through its partnerships with electric vehicle makers such as BYD.
The China Association of Automobile Manufacturers predicted that new energy vehicle sales in the country will hit 1.6 million in 2019, according to Reuters. That followed after car sales in China contracted last year for the first time since the 1990s, the news agency reported.
Last year Chinese authorities announced a broad crackdown in the domestic ride-hailing market, targeting Didi with fines following the death of two passengers in separate incidents. The company has about 550 million users on its platform and is backed by Japan's SoftBank. It's valued at $56 billion according to CB Insights.
SoftBank Vision Fund said to be in talks to invest $1.5b in Chinese used car site Guazi
February 2, 2019 The SoftBank-led Vision Fund is in talks to invest up to $1.5 billion in Chinese used car trading platform Guazi.com, two people with knowledge of the matter said. That would mark the latest Chinese deal by the mammoth $100 billion investment fund as it looks to expand in the world’s No.2 economy,… Continue reading SoftBank Vision Fund said to be in talks to invest $1.5b in Chinese used car site Guazi
In brief: Didi driver sentenced to death by Chinese court
The Didi driver had assaulted and killed a female passenger last August. Go to Source