(Yicai Global) Dec. 17 -- Embattled Chinese ride-hailing platform Yidao Yongche will continue with plans to put 1,000 new energy vehicles into circulation the northern city of Jinan, despite reports of a debt crisis and management disruptions.
Yidao will also build a charging pile network for the car-hailing service in the city, according to a statement from the Beijing-based company. The firm will install its first batch of 500 charging outlets in Jinan to achieve citywide coverage within 12 months.
Set up in 2010 as one of the country's first ride-hailer, Yidao has struggled for liquidity in recent years amid fierce competition from Didi Chuxing and Uber. The firm failed to pay its drivers during periods last year before securing new funding in April.
Yidao obtained a car-hailing license for Jinan last month and will use the city as a pilot area for its NEV push. It aims to push the strategy on a national level in the future.