Didi has expanded its range of services along with its geographical footprint. In addition to transportation and food delivery, the firm also provides bike-sharing, automobile leasing, car rental, and financial services products.
The country's Land Transportation Franchising and Regulatory Board have allowed Joyride, Move It, and Angkas to be apart of the motorcycle taxi testing program in Cebu, Cagayan de Oro, and Metro Manila.
The report says that under new proposals that would apply in Beijing, Shanghai and Shenzhen, a ride-hail vehicle must have a wheelbase longer than 2.7 meters for petrol cars, or 2.65 meters for new energy vehicles.
Sandeep Aggarwal, CEO and Founder of Droom, said, “By the time we file for our IPO, if we get more comparable assets in Hong Kong and we see a business rationale, we may consider Hong Kong. The same is the case for other listings.”
This investment also represents a deepening relationship between the two companies who formed a partnership last year when both companies announced they would be testing self-driving cars on roads within China.
According to Trevo, car ownership in Malaysia is amongst the highest in the region with 93% of households owning at least one car and 54% of households own multiple cars. They added that with real wage growth slowing down, car ownership is becoming a financial burden.