Didi in­vests mil­lions in bi­cy­cle startup

China Daily (Canada) - - NEWS CAPSULE -

Didi Chux­ing, China’s largest car on-de­mand ser­vice provider, is di­ver­si­fy­ing its ur­ban trans­porta­tion of­fer­ings by adding bi­cy­cles to its ex­ist­ing prod­uct port­fo­lio.

Bei­jing-based Didi an­nounced that it has in­vested tens of mil­lions of dol­lars in Ofo, a bike-on­de­mand startup cre­ated in 2014 on the cam­pus of Pek­ing Uni­ver­sity as a stu­dent project.

In­dus­try ob­servers said the in­vest­ment is ex­pected to of­fer Didi users an al­ter­na­tive mo­bil­ity so­lu­tion when four-wheel ve­hi­cles en­counter traf­fic jams, or they can use bikes to ar­rive at their fi­nal des­ti­na­tion af­ter get­ting off Didi buses.

PRO­VIDED TO CHINA DAILY

Flower beds have been in­stalled at Tian’an­men Square for the Na­tional Day, which falls on Oct 1. This year’s main bas­ket-shaped flower parterre is 50 me­ters (164 feet) wide and 17 me­ters (50 feet) in high.

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