Didi of China reverse course, will stay in Russia

FILE PHOTO: Didi's headquarters in Beijing
FILE PHOTO: The Didi logo is seen at Didi Chuxing’s headquarters in Beijing, China November 20, 2020. REUTERS / Florence Lo / File Photo

February 26, 2022

BEIJING (Reuters) – China’s ride-hailing giant Didi Global said on Saturday it would resume operations in Russia, reversing a decision announced on Monday that it would leave that country as well. like Kazakhstan.

No explanation has been given. Didi did not immediately respond to a request for further comment.

On Monday, Didi said it would leave Russia on March 4, about a year and a half after launching the service there. It has been in Kazakhstan for about a year.

“Unfortunately, due to changing market conditions and other challenges, which have become clear at this time, we will not be able to provide the best results in Russia and Kazakhstan,” it said on Monday. .

No statement mentioned geopolitical factors in the decision, but some online critics say the timing of the move leaves Didi accused of succumbing to US pressure on Russia. Ukraine invaded on Thursday.

Saturday’s statement made no mention of Kazakhstan.

The Chinese government has called for dialogue on Ukraine but has refused to condemn the Russian attack or call it an invasion.

Didi has had a turbulent time since it went public last summer in New York. Under pressure from Chinese regulators concerned about data security, Didi in December said it would delist it from the NYSE and pursue a listing in Hong Kong.

(Reporting by Tony Munroe and Brenda Goh; Editing by William Mallard) Didi of China reverse course, will stay in Russia

Caroline Bleakley

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