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Didi Global back-pedals on plan to cease ride-hailing operations in Russia as Western allies close ranks against invasion of Ukraine
- The Beijing-based ride-hailing giant will continue operations in Russia, days after saying it would exit the country and Kazakhstan from March 4
- The company has been under duress since last summer, soon after its US$4.4 billion initial public offering in New York
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Chinese ride-hailing giant Didi Global, which remains under a cybersecurity investigation by Beijing, has back-pedalled on its earlier decision to cease operations in Russia at a time when Western allies have started to close ranks against Moscow’s invasion of Ukraine.
“Didi Chuxing will not shut down its operations in Russia,” the company wrote in a post on microblogging platform Weibo on Saturday, using its Chinese name. “We will continue to operate in Russia and serve the country’s drivers and passengers.”
It marked a U-turn for Didi after announcing on Monday that it would exit Russia and Kazakhstan from March 4 because of “changing market conditions and other challenges” that would prevent it from being able to “provide the best results”.
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The Beijing-based company, which went public in New York last year under the name Didi Global, did not immediately respond to a request for further comment on Sunday.
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Didi’s sudden change of plan in Russia has fanned speculation on whether it is under pressure amid Beijing’s opposition to economic sanctions against Moscow.
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