Didi plans to enter western European markets such as Britain, Germany and France, according to the news


Tencent technology news according to foreign media reports, people familiar with the matter said that Chinese taxi giant didi travel plans to enter western European markets such as Britain, Germany and France for the first time, and it is looking for new growth markets before its long-awaited IPO.
According to two people familiar with Didi’s plan, Beijing based didi is considering offering carpooling services in markets that may include the UK, France and Germany before the first half of this year. Another person familiar with the matter said the company had set up a team dedicated to the European market and was recruiting locally.
Rival Uber’s shares were down 2.7% before trading on Wednesday, while LYFT’s shares were down 0.7%. As Didi’s development momentum in China begins to slow down, Didi is turning to new markets. After the expulsion of Uber in 2016, Didi had a major market share in China.
The company, backed by Softbank, currently operates in 13 countries outside its Chinese base, most of them in Latin America. In August 2020, Didi began to provide car Hailing service in Russia, which is its first direct entry into the European market. It has become an investor in Estonian bolt technology ou, which is Uber’s main competitor in the European continent. Didi will also compete with competitors such as get Inc., Ola and blacar.
In Europe, regulatory measures for technology companies and the casual economy are rapidly changing. Last week, the UK Supreme Court ruled that Uber must treat drivers as “employees” and give them the right to paid leave and a minimum wage when using the app, a ruling that could have a broader impact. European countries are also formulating taxes for technology platforms. The European continent has issued “general data protection regulations” and formulated strict data privacy rules.
As part of its foray into the European market, Didi is also considering providing more services, including take away and errand services, according to the needs of the local market. The plans are designed to boost the value of the company ahead of a possible IPO, people familiar with the matter added. As the discussion was private, these people asked not to be named. The company is already one of the largest start-ups in the world.
The company did not immediately respond to a request for comment. (Tencent technology reviser / Lexue)