Didi Chuxing puts $200m into used-car trader Renrenche
Chinese ride-hailing business Didi Chuxing has put $200m into peer-to-peer secondhand car trading platform Renrenche, and is expected to allow it to sell vehicles via Didi's app. This will give Renrenche access to Didi's customer base of around 17 million drivers and 400 million passengers. The secondhand car market is of increasing interest to Chinese companies since authorities began to ease restrictions on it last year.
The logo of Chinese ride-hailing service Didi Chuxing. The company is seeking a bite of the lucrative Chinese market for second-hand cars with an investment in used-car platform Renrenche. Photo: AP