Didi Chuxing, China’s ride-hailing company has plans to expand into Mexico next year, according to some media reports. The company has been in touch with the investment promotion bodies of the country during last month. The reports further say Didi will launch a smartphone app in Mexico and recruit local drivers to the platform but the details like which cities the company will be targeting etc are not known yet.
Didi is the biggest ride-hailing firm in China and it is valued only next to Uber but so far Didi has no cars outside China, therefore, Mexico could be its first international operation.
Didi has recently raised $5.5 billion from investors, in part to fund global expansion and has been investing in Uber’s rival companies like Lyft, Ola, Grab Careem. Uber has a strong hold in Mexico, with seven million users across 45 cities. Didi having beaten Uber in China — the company acquired Uber’s China business as the latter failed to compete– it needs to be seen how the Chinese company deals with the company in the market where it doesn’t enjoy the upper hand.