Didi, founded in 2012, cemented its dominance in China when it bought Uber’s operations in the country in 2016. German and Chinese car manufacturers Daimler and Geely will partner on a 50-50 ride-hailing joint venture which aims to challenge Didi Chuxing's dominance of the $23bn Chinese market, where Didi takes 90% of all bookings. The deal is expected to be announced in Berlin next week, with both companies saying they expect it to close by mid-2018. 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 challenge Didi Chuxing's dominance of the $23bn Chinese market, where Didi takes 90% of all bookings. The deal is expected to be announced in Berlin next week, with both companies saying they expect it to close by mid-2018. Goldman Sachs said the global ride-hailing market could be worth $285bn by 2030.