Beijing-based startup I.T Box is to roll out its first car-hailing model in late 2024. LI FUSHENG/CHINA DAILY I.T Box, a Beijing-based startup, is planning to carve a niche in China’s giant but fiercely competitive car-hailing market, with Didi Chuxing as the dominant player since it took over Uber’s operations in the country in 2016. There… Continue reading I.T Box looks to revolutionize car-hailing market
Tag: Didi
China Tech Giants’ Pivot: Retreats from Metaverse, Autonomous Driving, Chip Development, and Beyond
Reflecting on 2023, a key theme for the Chinese technology industry has been strategic retreats from various once-popular sectors, with a sharp focus on financial performance. Amid challenging macroeconomic conditions and heightened competition in an already saturated market, tech giants like Tencent, ByteDance, Alibaba, and Baidu have shifted from an “expansion-first” approach to prioritizing “survival.”… Continue reading China Tech Giants’ Pivot: Retreats from Metaverse, Autonomous Driving, Chip Development, and Beyond
Bike and Scootersharing Telematics Market Report – Micromobility and Public Transport Ecosystems to Converge
DUBLIN, Dec. 19, 2023 /PRNewswire/ — The “Bike and Scootersharing Telematics Market – 3rd Edition” report has been added to ResearchAndMarkets.com’s offering. The report estimates that the number of deployed vehicles in bikesharing schemes will grow at a CAGR of 8.2 percent from 23.7 million at the end of 2022 to 35.2 million by 2027. The… Continue reading Bike and Scootersharing Telematics Market Report – Micromobility and Public Transport Ecosystems to Converge
China’s autonomous vehicle regulation requires safety operators, in-car recordings
When it comes to spurring the development of cutting-edge technologies, the Chinese government is rather pragmatic in its policymaking process. In the field of autonomous driving, the country has made some big strides in defining the parameters and limitations for service providers, removing regulatory ambiguity and granting industry players the freedom to test and commercialize… Continue reading China’s autonomous vehicle regulation requires safety operators, in-car recordings
China’s ride-hailing giant Didi offers coupons to compensate for app glitch
China’s Didi Global on Wednesday offered millions of its customers coupons worth 10 yuan ($1.40) as part of an apology for a glitch that hit its ride-hailing app this week. In a pop-up on the app, the company also said it would compensate users who had overpaid for rides. On Monday evening, the app experienced… Continue reading China’s ride-hailing giant Didi offers coupons to compensate for app glitch
Didi Chuxing blames massive ‘system failure’ for service disruption
In 50 Words: While the Chinese firm said it has fixed all ride-hailing issues, its bike-sharing service hasn’t been fully restored. Go to Source
Chinese fast-fashion retailer Shein secretly files for US IPOGoldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on …
China-founded fashion company Shein has confidentially filed to go public in the United States, the Wall Street Journal reported on Monday, citing people familiar with the matter. The fast–fashion giant has been working with at least three investment banks about a potential IPO and was in talks with the New York Stock Exchange and the Nasdaq, Reuters reported in July. Goldman Sachs, JPMorgan… Continue reading Chinese fast-fashion retailer Shein secretly files for US IPOGoldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on …
DiDi Aims to Disrupt Business Travel with Cutting-Edge Generative AI Integration
In a strategic move to redefine the landscape of business travel, Chinese ride-hailing giant DiDi is harnessing the power of generative artificial intelligence (AI). At the helm of this innovative endeavor is Chai Hua, the head of DiDi Travel’s Maps and Public Transport Division, leading an internal team dedicated to generative AI applications. This initiative… Continue reading DiDi Aims to Disrupt Business Travel with Cutting-Edge Generative AI Integration
China Digest: Betone raises nearly $71m; Ant Group backs Legend Energy
China’s Betone, a developer of manufacturing equipment used in chip production, and Legend Energy, which offers artificial intelligence (AI)-based smart energy storage solutions, have become the latest startups to raise capital. Betone raises nearly $71m to develop new products Betone Technology Shanghai Inc, a Chinese developer of manufacturing equipment used in semiconductor production, has secured… Continue reading China Digest: Betone raises nearly $71m; Ant Group backs Legend Energy
Chinese EV maker XPeng completes initial closing of deal to buy Didi’s smart auto asset
Chinese electric vehicle manufacturer XPeng on Monday hit the initial closing of its acquisition of ride-hailing firm Didi’s smart auto development business. Xpeng announced on August 27 that it will acquire Xiaoju Smart Auto and its subsidiaries — the EV unit that develops, designs and engineers the smart EV model under DiDi in a deal… Continue reading Chinese EV maker XPeng completes initial closing of deal to buy Didi’s smart auto asset