In just about three years, Yidao Yongche has carved a niche for itself in China’s car rental market. And now it is going global.
Uber has plunged headlong into China’s immensely complex and hypercompetitive transportation and taxi app market. Can it win?
This week, the BYD stock price fell sharply, as did Geely’s; Baidu invested in ride-sharing company Uber; and China’s factory activity slowed further.
This week, taxi app Didi Dache secured funding of more than $700 million, easily the biggest private investment in China’s mobile internet sector; LeTV announced an audacious plan to get into Tesla’s territory; and China’s import and export numbers slowed.