Didi Expands its Reach in China with Yestock Deal

didichuxing
yestock

(Brandon Bhangoo) #1

The Chinese market is far from conquered, and Didi has to continue expanding its reach to assure a solid hold over the now competitive rideshare market in China.

Didi signed a deal with Chinese Yestock; a car rental company will provide Didi with a share subscription platform as well as make Didi a major shareholder in the company.

image

Yestock is a Shenzhen based car leasing company that provides a number of leasing and long-term rental options specifically for the used car market. Yestock claims to have at least 20,000 cars in their fleet as well as over 1,000 employees providing a comprehensive service. It has assets of around RMB 2 billion and owns over 6,000 license plates in cities that have license plate restrictions.

Didi is already China's leading transportation company, providing much more than just rideshare services. They also provide smart city solutions for traffic control as well as offer taxi, bus, minibus, car rental and bike sharing services. Didi covers over 25 million rides per day, operates over 21 million drivers and car owners all over China.

Didi is adding Yestock to its already impressive portfolio of investments that include Grab, Ola, Uber, Lyft, Taxify, Careem and 99. As well as its recent insurgence into Japan together with SoftBank and Tokyo Taxi.


(Steve Mann) #2

Uber did that, it didn’t work for them, but I think that Didi is a little more mature and most probably has the deal in hand.