Chinese travel site Ctrip makes move into ride-hailing
Can Ctrip do what Uber couldn’t and dethrone Didi Chuxing?
“Now the focus of competition in ride hailing has shifted from price to service,” chief executive of Ctrip’s chauffeur car service unit Li Qiao said. “Users are more willing to pay for good service.”
As part of that deal, Uber sold its Chinese operations to Didi for US$1 billion in exchange for a 17.1 per cent stake in Didi.
And Didi seems ready for a fight. “If you want war, you will get war,” its co-founder Cheng Wei recently told Chinese financial magazine Caijing.