For the last two years, Didi has been the dominant car-hailing force in China and its success has spawned a handful of competitors initiated by both internet firms and old-school carmakers. Just last week, another notable challenger has stepped up. T3, which is short for “top 3”, officially launched after a dozen entities, including three… Continue reading Alibaba, Tencent and other major names form $1.45B ride-hailing venture
Tag: Didi
Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East
SAN FRANCISCO (Reuters) – Global ride-hailing firm Uber Technologies Inc will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering. The Uber Hub is seen in Redondo Beach, California, U.S., March 25, 2019. REUTERS/Lucy Nicholson Uber said late Monday night… Continue reading Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East
Alibaba, Tencent, car makers set up $1.5 billion China ride-hailing venture
BEIJING (Reuters) – Alibaba, Tencent, Suning, and car makers including Chongqing Changan Automobile have set up a $1.5 billion Chinese ride-hailing venture, a move that could test the dominance of ride-sharing giant Didi Chuxing. FILE PHOTO: A man stands near the logo of Alibaba Group at the company’s newly-launched office in Kuala Lumpur, Malaysia June… Continue reading Alibaba, Tencent, car makers set up $1.5 billion China ride-hailing venture
Car manufacturer: BMW CEO Krüger sees no room for new jobs
Harald Kruger “We keep on hiring, but will not grow this year,” Krüger said. (Photo: AP) BerlinBMW-Boss Harald Kruger In 2019, given the fall in profits, there is no room for additional job creation. “We continue to recruit, but this year will not grow,” said Krüger the “Süddeutsche Zeitung”. BMW must now save in all… Continue reading Car manufacturer: BMW CEO Krüger sees no room for new jobs
Taxify rebrands as Bolt to expand its transport options beyond private cars
Taxify, the ride-hailing company from Estonia backed by Didi and Daimler and now active in 30 countries, is making a key shift in its business today as it gears up for its next stage of growth. The company is removing “taxi” from its name and rebranding as Bolt, the same name that it has been… Continue reading Taxify rebrands as Bolt to expand its transport options beyond private cars
Grab raises $1.46b from Vision fund, bumps up Series H total to $4.5b
March 6, 2019 Ride-hailing unicorn Grab has raised $1.46 billion in fresh funding from the SoftBank Vision Fund, bringing the total amassed in its ongoing Series H to $4.5 billion, according to a statement on Wednesday. SoftBank Group Corp is an existing Grab investor. It first bought a stake in Grab for $250 million in… Continue reading Grab raises $1.46b from Vision fund, bumps up Series H total to $4.5b
FlixBus, the German Uber-like bus service, is buying rival Eurolines from Transdev
While all eyes are on what Uber, Lyft and Didi will do this year as transportation-on-demand using private vehicles continues to consolidate, there’s also some interesting moves being played out in the adjacent business of bus and coach services. Today, FlixBus, the German startup backed by Daimler, General Atlantic, Silver Lake and others that has… Continue reading FlixBus, the German Uber-like bus service, is buying rival Eurolines from Transdev
Sixt merges car sharing and car rental: “We are responsible for car dealership”
DPA Alexander Sixt is the head of strategy of the car rental company of the same name and the eldest son of company founder Erich Sixt With its new, global mobility platform “One”, Germany’s largest car rental company now offers Sixt Car rental, car sharing and travel services in a single app on. Strategy director… Continue reading Sixt merges car sharing and car rental: “We are responsible for car dealership”
India’s Ola spins out a dedicated EV business — and it just raised $56M from investors
Ola, Uber’s key rival in India, is doubling down on electric vehicles after it span out a dedicated business, which has pulled in $56 million in early funding. The unit is named Ola Electric Mobility and it is described as being an independent business that’s backed by Ola. TechCrunch understands Ola provided founding capital, and… Continue reading India’s Ola spins out a dedicated EV business — and it just raised $56M from investors
SoftBank’s Vision Fund invests $1.5B in Chinese second-hand car startup Chehaoduo
SoftBank’s Vision Fund is taking a bet on China’s auto market after it agreed to pour $1.5 billion into online car trading group Chehaoduo, which literally means “many cars” in Chinese. The Beijing-based company operates two main sites — peer-to-peer online marketplace Guazi for used vehicles, and Maodou, which retails new sedans through direct sales… Continue reading SoftBank’s Vision Fund invests $1.5B in Chinese second-hand car startup Chehaoduo