China-based Didi Chuxing, a leading mobile transportation platform, announced that its auto solutions platform is going to be known as Xiaoju automobile solutions. The company has also announced an investment of $ 1 billion (Rs 6,883 crore) into the new entity.
As per the official sources, the investment is going to be dedicated for the benefit of the ‘DiDi’ drivers and the broader car-owner community. When the auto solution platform was launched in April 2018, it included leasing and trading, refuelling, maintenance and repair and car sharing. With the creation of Xiaoju automobile solutions, it will incorporate new brands- Xiaoju auto leasing and retail, Xiaoju gas refuelling and Xiaoju auto care.
Cheng Wei, founder, chairman and CEO of Didi Chuxing said, “The creation of Xiaoju automobile solutions is not only a key step towards achieving DiDi’s automobile alliance strategy but also a milestone in organizational innovation as we continue to expand our business horizon. DiDi believes that only by serving drivers better, will we be able to serve passengers better. In the future, DiDi will continue a win-win collaborative network with partners throughout the automotive industry chain to build a new transportation ecosystem designed for a future of shared mobility.”
Jean Liu, president of DiDi Chuxing (first left), Xu Liuping, chairman of China FAW Group (second left), Xu Heyi, chairman of Beijing automotive group (third left), Wang Chuanfu, president & chairman of BYD company (third right), Feng Xingya, president of Guangzhou automobile group (second right), and Li Xiang, chairman & CEO of Beijing CHJ automotive at the Launch of the DiDi Auto Alliance in Beijing on April 24, 2018
Kevin Chen will become the general manager of the new entity, reporting to Jean Liu, president of Didi Chuxing. Xiaoju automobile solutions, with an annualized GMV exceeding RMB 60 billion (Rs 60,267 crore), is now available in 257 cities in a network of over 7,500 partners and distributors.
Kevin Chen, the new general manager of Xiaoju automobile solutions, said, “The new Xiaoju automobile solutions team is ready to embrace our new missions. Building on our service to 30 million DiDi drivers, we will strive to develop a leading one-stop auto solution platform capable of winning the highest trust of car users with a more enjoyable, innovative and friendlier auto service experience. As a crucial extension of DiDi’s overall automotive strategies, Xiaoju automobile solutions will also contribute to DiDi’s leadership in the transformation of global transportation and automotive industries.”