Rival apps to Didi Chuxing are rushing to lure drivers and users as they seek to take advantage of a cyber security crackdown on the Chinese ride-hailing market leader following its blockbuster New York listing.
Didi accounts for 90 per cent of all car bookings in China, but the country’s estimated 230 ride-hailing apps are trying to chip away at its lead, accelerating expansion plans, offering discounts and boosting incentives for drivers, analysts said.
Many of Didi’s rivals are also backed by leading Chinese automakers. Cao Cao, a ride-hailing app from Geely that uses electric cars, recently cut the prices of digital coupons that give users various discounts and benefits by almost one-third.
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