DIDI renounces the expansion in the UK and EU. Too much pressure from Beijing
With Chinese stocks still under pressure from Beijing's ongoing push to bring big tech to the heel, Didi's knight-sharing app has suspended plans to launch into Britain and Continental Europe, an expansion that the company has been planning for years.
The Telegraph reports that Didi has secured licenses to operate in a handful of British cities guaranteed licenses to operate in Manchester, Sheffield, Salford and Wolverhampton as part of its effort to challenge Uber directly in the UK, but now this all looks like one. useless effort.
The attack by the Chinese government on Didi and therefore the collapse of the shares, which even prompted Didi to consider withdrawing from the stock market and returning to the status of a private company, therefore continues to influence the expansion choices. The Chinese government obviously wants Didi not to expand further, but to concentrate on defending the markets, where it already operates, China in the first place, but also Australia, South America and some African nations.
Markets include Australia and Parts of Africa and South America.
The decision to return from the UK is particularly bad for Didi employees who have been hired to focus on that market. The Company no longer advertises any open jobs in the UK and Telegraph sources say the cuts are coming to Europe within the next month (although some workers will be allowed to continue in other roles).
When approached for comment by the telegraph, a spokesperson for Didi shared the following statement:
A spokesperson for Didi said: “We continue to explore further new markets, by connecting with stakeholders in each and by thinking about when to present our services. As soon as we have news of new new markets, we look forward to sharing it. "
“We have established an International Talent Hub in the UK, recognizing the exceptional quality of the people in the market. In addition to this, any personal matters remain strictly confidential. We try to fully comply with all laws and regulations in all markets in which we operate. "
The Didi app remains undownloadable across China, even though nearly 1 billion Chinese consumers are already using it. Meanwhile, the investigations of the Chinese authorities are continuing on the high-tech companies, but it is not yet understood what direction they are taking.
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The DIDI article forgoes expansion into the UK and EU. Too much pressure from Beijing comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/didi-rinuncia-allepansione-in-uk-e-eu-troppa-pressione-da-pechino/ on Tue, 24 Aug 2021 15:37:19 +0000.