Monday, March 30, 2020

Car-Leasing Firms, Insurance and Finance Companies Join Hands in Lease, Insurance and Loan Extension for DiDi Drivers in China to Lessen Coronavirus Impact

Car-Leasing Firms, Insurance and Finance Companies Join Hands in Lease, Insurance and Loan Extension for DiDi Drivers in China to Lessen Coronavirus Impact

(Beijing, China, February 17, 2020) – An initiative for car-leasing firms, insurance and finance companies to extend current leases and insurance coverage for DiDi drivers is expanding from Hubei to other parts of China as DiDi coordinates a cross-industry effort against the COVID-19 outbreak.

After a regional initiative started in Hubei with 16 main leasing partners, Xiaoju Automobile Solutions (“XAS”), DiDi’s subsidiary, continues to coordinate with over 3,000 leasing partners nationwide to expand its lease extension plan to ride-hailing drivers. Under the plan, the February payment for its drivers nationwide will be waived and XAS will update its plan further based on the outbreak situation.

China’s leading insurers, including People’s Insurance Company of China, Ping An Insurance, Pacific Insurance and China Life Insurance, are among the 38 main insurance partners of DiDi who have committed to extending coverage for leased vehicles to help the leasing firms reduce their operating costs.

Over 20 financial institutions, including the finance arms of Dongfeng Motors, BAIC Group, China Merchants Bank and China Zheshang Bank have rolled out loan extension, liquidity lending and lease adjustment programs to help DiDi’s car-leasing partners.

Apart from new daily disinfection routines, protective masks and gears, DiDi also announced a special COVID-2019 insurance program, together with special medical emergency allowances for its driver partners who continue to serve the citizenry as the nation’s transportation system faces unprecedented challenges. DiDi and its volunteer drivers have organized special fleets to offer free transportation for 20,885 certified doctors and nurses in Wuhan, Shanghai, Beijing, Xiamen, Ningbo and Nanjing.

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