Didi and Uber Join Fight Against Ola in India
Didi Chuxing's acquisition of Uber's China business last week reshapes the landscape in Asia's growing ride-hailing sector, and leaves India's Ola more vulnerable to attack by Uber in its $12 billion home market.
Four months ago, Ola executives met with Didi hoping the Chinese firm would invest fresh capital to help it fight Uber Technologies Inc which, with its deeper pockets, has made rapid inroads into India.
They were told Didi wanted first to sort out its own challenges in China, said a person with direct knowledge of Ola's plans.
Didi and Uber have raised and spent billions of dollars in a discount slugfest to win drivers, passengers and market share in China.
Didi, now worth around $35 billion, last year invested about $30 million in Ola, which is also backed by Japan's ...