Chinese ride-sharing major Didi Chuxing raises $4B for overseas and AI expansion

Didi Chuxing, market leader in China’s ride-hailing segment, has announced that it has raised $4 billion in an investment round for its deeper and wider push into overseas markets, and to help it implement more artificial intelligence technologies into its offerings.

Investors in the latest round of funding are existing investor SoftBank, and Abu Dhabi state fund Mubadala Capital, although the latter’s participation was not verifiable.

Didi has already cemented its leadership position in China after acquiring Uber’s assets in the country last year. Now, the company plans to continue its aggressive overseas expansion plans, as well as leverage forward technologies like artificial intelligence.

On Wednesday, Didi announced its intention to enter the Taiwan ride-hailing market, and has already authorized a franchisee operator for initial market research.

Earlier this month, Reuters also reported that Didi wanted to enter Mexico directly, making it the first overseas market being operated directly by the company.

The current investment round brings Didi Chuxing’s valuation to $50 billion.

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