Chinese EV Startup NIO’s Founder Li Bin Joins Ride-Sharing Platform Dida Chuxing as Chairman

Chinese EV Startup NIO’s Founder Li Bin Joins Ride-Sharing Platform Dida Chuxing as Chairman

Dou Shicong

Date: Wed, 04/25/2018 - 20:47 / source:Yicai
Chinese EV Startup NIO’s Founder Li Bin Joins Ride-Sharing Platform Dida Chuxing as Chairman
Chinese EV Startup NIO’s Founder Li Bin Joins Ride-Sharing Platform Dida Chuxing as Chairman

(Yicai Global) April 25 -- Li Bin, founder and chairman of Chinese electric vehicle startup Shanghai NIO Automobiles Co., will join Dida Chuxing, formerly Dida Pinche, a ride-sharing service platform operated by Beijing Changxing Information Technology Co., as its new chairman, online media outlet 36kr reported today.

"Li Bin will be involved in long-term strategy development at Dida Chuxing, and he will significantly help the company make headway with the creation of an ecosystem in the mobility market, synergistic development and business integration," said Song Zhongjue, chief executive officer of Dida's operator, at the China venture capital investment conference in Shanghai yesterday.

NIO Automobiles’ affiliate NIO Capital invested in Dida last year, asking the platform to diversify its business model to offer both ride-sharing and car-hailing services, said Zhang Junyi, a partner in NIO Capital, without disclosing the exact amount of the investment or the shareholding.

Li founded China’s first internet-based auto information platform Bitauto Holdings Limited as early as 2000. In 2014, he partnered up with China’s internet giants Tencent Holdings Ltd. and JD.Com Inc. to create NIO, touted as China’s answer to Tesla. He is also one of the first several investors in Beijing Mobike Technology Co., a leading brand of bike-sharing service in China.

Dida’s archrival, Didi Chuxing, is developed by Beijing Xiaoju Technology Co., and it became the largest online ride-hailing platform in the country with a market share of about 90 percent, following the acquisition of Chinese operations of Uber Technologies Inc. in 2016. Other market players have entered into tie-up deals to compete with Didi’s operator.

NIO Capital has also invested in another ride-hailing startup Shouyue Technology (Beijing) Co. Dida Chuxing, Shouyue and Mobike may initiate new partnerships based on their affiliations, Zhang suggested.

Editor: Mevlut Katik

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Keywords: NIO, Bitauto, Mobike, Didi Chuxing, Car-Hailing, Li Bin