Reuters

Daimler and Geely in ride-hailing tie-up in China

Daimler and Geely in ride-hailing tie-up in China

Part of the growth in mobility services in China is down to the popularity of mobile payment systems, which have made transactions seamless, said Bain & Company.

  • October 24, 2018
  • min read

Reuters

Daimler and Geely in ride-hailing tie-up in China

The deal creates a new competitor to Didi Chuxing, which currently dominates a Chinese ride-hailing market that has shown explosive growth in recent years, expanding from 30 million users in 2014 to 217 million in 2017, according to Bain & Company.

The market is currently worth $23 billion, more than all other ride-hailing markets combined, and Didi accounts for 90 percent of all bookings, the consulting firm said.

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