Didi in­vests mil­lions in bi­cy­cle startup

China Daily (USA) - - NEWS CAPSULE NEWS IN REVIEW -

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. (Photo 3)

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