Uber surrenders: Uber was losing more than US$1bil (RM4bil) a year to compete with Didi Chuxing.
SAN FRANCISCO: China ride-hailing service Didi Chuxing's dominance of Uber Technologies in the China market may provide a playbook for regional rivals to fend off the biggest US ride-hailing company, especially in South-East Asia and India.
The two companies on Aug 1 confirmed the sale of Uber China to its bigger rival, ending a two-year, money-losing effort to break into one of the world's toughest markets. Uber leaves with around a one-fifth stake in Didi, but will give up control of its China operations.
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