Chinese Unicorn DiDi Chuxing Announces Three Year Strategy

Will Cheng Wei, CEO of DiDi Chuxing

The strategy is called 0188 to denote the startup’s three-year goals.

DiDi Chuxing, an app-based ride-hailing startup based in China, has announced its new three year strategy for steady and sustainable growth. The strategy was announced by Will Cheng Wei, CEO of Didi Chuxing, during a strategy meeting held on April 16, 2020 in Beijing, according to a statement by the company.

Will Cheng Wei, CEO of Didi Chuxing (“DiDi”), announced the company’s three-year strategic goals at a strategy meeting held on April 16, 2020 in Beijing.

Labelled as “0188”, DiDi’s three-year strategy advances from its “all-in-safety” perspective to longer-term safety capacity building and user value growth. The number 0 signifies safety as a priority, while the other three numbers denotes DiDi’s goals under the strategy.

These are capping over 100 million daily trips globally, reaching an 8% penetration rate in China’s mobility market; and tabling 800 million monthly active users globally by 2022, the statement added.

As of the beginning of 2020, DiDi has delivered over 1 billion international trips.

“We have built up a set of important infrastructure and core capabilities to achieve long-term growth. Our three-year strategy is based on our analysis of future industry and economic trends, and reflects our confidence in DiDi’s strength and value creation capabilities,” Cheng said in the statement, asserting that safety was imperative to DiDi’s growth.

The company is specifically looking to developing DiDi’s platform for integrated four-wheeler (ride-hailing, taxi, designated driving and hitch), two-wheeler (bike and e-bike) and public transportation solutions, as well as expanding its subsidiary Xiaoju Automobile Solutions, autonomous driving, fintech services, and smart transportation businesses.

Jean Liu, President of DiDi, stated that the company learned “invaluable lessons” through responding to the COVID-19 pandemic, both in China and in international markets.

“Our investments in 2018 and 2019 into core safety capabilities played a critical role in this fight, and I am convinced we are a young company that is capable of overcoming crises and economic cycles. The new strategy carries not only hard numbers, but a commitment to the safety of every user and every trip, and flexible income opportunities to more car owners and drivers,” she added.

Earlier this month, DiDi and its long-time partner BAIC, along with a consortium of automotive industry firms and Chinese state-owned institutions, announced a customer-centric car leasing service.

Under this partnership, “the companies aim to have a fleet of 100,000 cars for lease in the next three years,” a DiDi spokesperson told Jumpstart.

Header image courtesy of DiDi Chuxing.

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