German and Chinese car manufacturers Daimler and Geely will partner on a 50 - 50 ride - hailing joint venture which aims to break Didi Chuxing 's dominance of the $ 23bn Chinese market , where Didi handles 90 % of all bookings . “The development of such services, in which both companies already have a presence, forms part of our transformation from a vehicle manufacturer into a global automotive technology group,” The Daimler - Geely joint venture will be headquartered in Hangzhou , and will include among its fleet Mercedes ' S - Class , E - Class and V - Class vehicles , among others . Goldman Sachs said the global ride - hailing market could be worth $ 285bn by 2030 .
German and Chinese car manufacturers Daimler and Geely will partner on a 50 - 50 ride - hailing joint venture which aims to break Didi Chuxing 's dominance of the $ 23bn Chinese market , where Didi handles 90 % of all bookings . The Daimler - Geely joint venture will be headquartered in Hangzhou , and will include among its fleet Mercedes ' S - Class , E - Class and V - Class vehicles , among others . Goldman Sachs said the global ride - hailing market could be worth $ 285bn by 2030 .