Geely to launch new ride-hailing platform, amid DiDi's plight

December 3, 2021 9:07 pm

Geely, China's longstanding automotive manufacturer, will launch a new ride-hailing platform headquartered in Chongqing, according to Jiemian News.

According to people familiar with the matter, the new platform will be named “xingfuqianwanjia”, which roughly translates to “bring happiness to thousands of households”. Xingfuqianwanjia will mainly rely on Geely’s own ride-hailing resources and manpower, and work with selected reliable third-party ride providers.

Geely has not issued any official statements regarding the new program.

Previously, Geely already runs three ride-hailing platform, Caocao, with 903 thousand daily active users, Limao and Star Rides. The three platforms cater to different transit needs by focusing on different service models. Caocao is for daily commute, Limao is for customizable rides and trips, and Star Rides is for high-end luxury traveling.

Geely’s move comes when Didi, one of China’s biggest ride-hailing service provider, is still caught in a jam due to its alleged data security problems. Didi’s apps have been removed from app stores since regulators launched an investigation regarding Didi’s information gathering and management. As a result, Didi’s shares plunged 44% since its IPO, closing at $7.80 on Thursday.

Didi has announced on Friday that it will begin delisting from the New York Stock Exchange and plans to list in Hong Kong. Briefly after the announcement, rumors about Didi’s apps being restored surfaced online. The rumors alleged several Didi apps including DiDi Food and DiDi-Rider have resurfaced in Apple’s App Store in China. The rumor was later debunked as those apps were not removed from app stores in the first place, and according to Cyberspace Administration of China’s notice, none of the apps that were ordered to be removed have been granted to restore.