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Geely and Daimler partners to enter the Chinese ride-hailing market

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Geely, a Chinese manufacturer that's also called Volvo Cars in Europe, Lotus, and London Black Cabs are all hardening their team effort with Daimler. According to reports, these companies are starting to talk in hopes of partnering up to start offering ride-hailing services in China and go against Didi Chuxing.

Geely, that has already a 10% stake in Daimler, is eager to obtain its share of China’s growing mobility business; the ride-hailing volume is projected to be close to 8 billion rides in 2018.

Competition in the starting blocks

A Geely-Daimler joint venture will not be the only Didi competitor on the Chinese market. Many OEMs have been investing in or are collaborating with ride-hailing companies.

Toyota is partnering up with Grab, the Singaporean Uber competitor, by installing tracking and data registration devices in Grab cars in South-East Asia. A Toyota-Softbank collaboration has also been announced, beginning of October; this joint venture will develop ride-hailing and self-driving technologies. Reminder: competing with Didi can happen outside of the Chinese border.

Read more here

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