Chinese Car Sharing Company Didi Chuxing to Go Public in New York

[Asia Economy Reporter Yujin Cho] Didi Chuxing, China's largest ride-sharing service provider, will be listed on the New York Stock Exchange this July.

On the 10th (local time), the U.S. economic media CNBC reported that Didi Chuxing's initial public offering (IPO) size could reach up to $10 billion.

If it secures $10 billion through this New York Stock Exchange listing, it is expected to be the largest IPO in the world this year.

If the listing is successful, Didi Chuxing's corporate value is expected to reach approximately $100 billion.

Didi Chuxing is a company specializing in ride-sharing services that dispatches the nearest affiliated taxi or private vehicle through a mobile app, often called the "Chinese Uber." Major investors include SoftBank, Alibaba, and Tencent.

Didi Chuxing has recently expanded its business portfolio by entering the autonomous taxi sector.

Since June last year, Didi Chuxing has started a robo-taxi pilot service in the pilot zone of Jiading District, Shanghai, and plans to operate up to one million autonomous vehicles by 2030.

Didi Chuxing was hit by the COVID-19 pandemic but has seen its performance improve due to economic reopening following expanded vaccination.

According to the earnings data released along with the IPO plan yesterday, Didi Chuxing reported that its revenue in the first quarter of this year was 42.2 billion yuan, more than double compared to 20.5 billion yuan in the same period last year.

This content was produced with the assistance of AI translation services.