Yidao offers subsidies to mark return
YIDAO Yongche, one of China’s earliest ride-hailing apps, marked its return to the market by announcing yesterday that it will offer subsidies to drivers in Shanghai.
Starting from yesterday, Yidao offers Shanghai drivers a subsidy of up to 120 yuan (US$18.2) for each car every day to encourage them to pick up passengers. The subsidy will soon be offered in other cities including Beijing, Guangzhou and Shenzhen.
Yidao users had previously grumbled that drivers were unwilling to accept bookings while drivers complained they couldn’t get income in their accounts because of a cash shortage faced by LeEco which was replaced by TWC Group as the new controlling shareholder of Yidao in June.
In 2017, the ride-hailing service is expected to attract 411 million people in China, according to research firm CNIT Research.
The ride-hailing market will grow eightfolds by 2030, five times the size of the taxi market, justifying huge valuations of companies like Uber’s US$68 billion and Didi Chuxing’s US$50 billion, according to a Goldman Sachs report published in May.
But Yidao still faces challenges even with the new investor and capital support.
“Ride-hailing companies need to recruit drivers to grow, and need to subsidize those drivers to attract new customers,” the Goldman Sachs report said. “This costly growth is the primary reason why no ride-hailing company has so far been able to enjoy an operating profit.”
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.