18 Feb China’s Didi Chuxing signs deal with 12 car groups
The Financial Times, February 7, 2018
Ride-hailing company aims to use partnerships to boost vehicle-sharing services
Chinese ride-hailing group Didi Chuxing has signed partnership agreements with 12 car companies to help them market auto-sharing services and electric vehicles.
The move by the group, which has a near-monopoly in ride-hailing in China, is an example of the rapid merging of interests between the car industry and technology companies.
Bill Russo’s quote:
“The auto industry has always defined itself as a product to be owned, but in reality is a utility to be used,” said Bill Russo, head of Automobility, a consultancy in Shanghai.
He said the arrival of internet companies in the car sector will “disrupt the food chain of the auto industry” by transforming it into a service industry.
“Guess who is putting people in cars more and more? It’s not car companies, it’s internet companies,” he said.