LatAm List – Amidst a campaign to restructure and improve operations in China, ridesharing company Didi Chuxing has its sights set on the Latin American market. After acquiring 99 in Brazil last year and expanding into Mexico, Didi claims to be ready to compete hard with Uber across all Latin American markets.
Within 2018, Didi launched its services in Brazil, Mexico, Australia, New Zealand, and Japan. This year, Didi plans to reach Chile, Colombia, Peru, and Argentina. Brazil and Mexico are among Didi’s fastest growing markets, with Brazil registering more than a million daily trips on the app.
Didi is also looking into developing food delivery, bicycle rental, and payments solutions in the region. For example, in Brazil, Didi works with local fintech company, Hub Fintech, to provide drivers with credit cards to reduce the risk of robbery.
“We believe that ‘no cash payment’ is a solution for the future of Latin America, and we hope to be part of it,” said one of Didi’s employees.
Read more in the press release from Tencent.