China to hit mobility giant Didi with a $1B fine

Chinese authorities are set to hit mobility giant Didi with a $1 billion fine, a move that could end a torrid period for the firm.

Didi has been in the spotlight of the Chinese government after the company raised $4 billion from selling its stocks in New York.

Beijing launched a data security probe into Didi in the days after its New York Stock Exchange (NYSE) listing; claiming that it was “illegally collecting user data”. However, both the country’s regulators and...

20 July 2022 | Connected Vehicles

Di-nied: Chinese ride-hailing giant DiDi denies it’s going private

Chinese ride-hailing giant DiDi has denied a report that it’s considering going private to appease the country’s authorities.

Shares in DiDi (DIDI) spiked by around eight percent following the report from the Wall Street Journal as investors bet on a smoother ride for DiDi going forward.

DiDi, which is backed by Apple, has been targeted by Chinese authorities following its $4.4 billion listing on the New York Stock Exchange (NYSE).

Earlier this month,...

30 July 2021 | Connected Vehicles