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 .
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 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.