China’s Didi Chuxing Technology Co., one of the world’s largest ride-hailing companies, is holding discussions about a multibillion-dollar initial public offering that could happen as soon as this year, according to people familiar with the matter. The Beijing-based company has in recent weeks been in talks with bankers about the feasibility of tapping the public markets for cash in the second half of 2018, as it looks to amass a large war chest to fend off rivals in China and other countries, the people said. Didi—which... … [Read more...] about Chinese Ride-Hailing Giant Hits Accelerator on Talks for Potential IPO
Ride hailing
As ride hailing booms in D.C., it’s not just eating into the taxi market — it’s increasing vehicle trips
D.C.’s ride-hailing market has exploded over the past three years, more than quadrupling since late 2015 as Metro and taxi ridership have steadily fallen, statistics show, a sign that Uber and Lyft are probably creating thousands of new vehicle trips in the city, officials and analysts say. New figures provided by the office of D.C. Mayor Muriel E. Bowser (D) show that taxi ridership has fallen 31 percent, or about 6 million trips, since the ride-hailing boom began in late 2015. Metro hired a consultant last year to build ridership models that take into account the impact of ride-hailing services as part of the agency’s effort to determine the sources of its ridership decline; average weekday ridership is down about 135,000 riders from peaks a decade ago. Revenue the city collects from a ride surcharge shows how quickly the ride-hailing services have taken off. The app-based services are generating as much tax revenue for the city — about $4.5 million a year … [Read more...] about As ride hailing booms in D.C., it’s not just eating into the taxi market — it’s increasing vehicle trips
Cops: 2 convicted felons picked up, robbed ride-hail passenger in River North
Two convicted felons are facing new charges after they allegedly picked up and robbed a ride-hail passenger early Friday in the River North neighborhood on the Near North Side. Stacey Means, 45, and 51-year-old Robert Archer were both charged with a single felony count of aggravated robbery, according to Chicago Police. About 3:30 a.m., Area Central detectives were conducting undercover surveillance on a vehicle suspected in a previous robbery involving a ride-hailing app that happened about 11 p.m. April 13 in the 200 block of West Grand, police said. The detectives saw Means and Archer use the vehicle to pick up the passenger in the 100 block of West Kinzie before driving to an ATM and forcing the victim to withdraw money, police said. The duo also stole the victim’s personal property. Detectives later took the men into custody, police said. They are scheduled to appear in bond court on Sunday, police said. Stacey Means; Robert Archer | Chicago Police … [Read more...] about Cops: 2 convicted felons picked up, robbed ride-hail passenger in River North
Indian ride-hailing firm Ola to add 10,000 electric three-wheelers to fleet
NEW DELHI (Reuters) - Indian ride-hailing firm Ola, backed by Japan's SoftBank Group, said it will add 10,000 electric three-wheelers to its fleet over the next 12 months as part of a plan to promote the use of electric vehicles. Ola plans to have 1 million electric vehicles on offer by 2021, it said in a statement, adding that it will work with various state governments, vehicle manufacturers and battery companies to meet its target. Prime Minister Narendra Modi's government is determined to promote electric vehicle use, starting with public transport and taxis, to combat rising pollution and reduce the nation's dependence on imported oil. India has also set a target to make all new vehicles electric by 2030. Ola, which operates in 110 Indian cities and has over a million driver partners, said the electric three-wheelers will be introduced in three cities but did not name them. Three-wheelers are commonly used, especially in smaller cities, but electric variants were introduced only … [Read more...] about Indian ride-hailing firm Ola to add 10,000 electric three-wheelers to fleet
Indian ride-hailing firm Ola to launch 10,000 electric vehicles over 12 months
NEW DELHI (Reuters) - Indian ride-hailing firm Ola, backed by Japan's SoftBank Group will launch 10,000 electric three-wheelers in the country over the next 12 months as part of a broader electrification plan, the company said in a statement on Monday. The move is part of a broader push by Ola to launch 1 million electric vehicles on its platform by 2021, it said in the statement, adding that it will work with various state governments, vehicle manufacturers and battery companies to meet its target. (Reporting by Aditi Shah; Editing by Swati Bhat) … [Read more...] about Indian ride-hailing firm Ola to launch 10,000 electric vehicles over 12 months