• BMW Is Launching a Ride-Hailing Service in China This December

    20 days ago - By Fortune

    Luxury automaker BMW is planning to launch a ride-hailing service in China this December, which would make the German company the first foreign carmaker to nab a license in the country, Reuters reports .
    China's ride-hailing market is currently dominated by DiDi Chuxing, which bought Uber's Chinese business in 2016 and announced a $1 billion investment into its auto services in early August.
    But even though a May report from Bain & Co. found that 90% of all Chinese ride-hailing trips go to DidiChuxing, the consulting company noted that there was room for competition. Especially if new...
    Read more ...