Of course, if something urgent happens, Xiao Lei’s first choice is to take a taxi.

There are a lot of taxi-hailing apps, but Didi is definitely the big brother in online taxi-hailing.

Many friends should be the same as Xiaolei, and the most commonly used is Didi Taxi.

After arriving at the destination, you can pay the fare directly on the App, eliminating the need to scan the QR code for the driver to transfer money, and the operation is quite convenient.

When the car reaches the end, there is usually no other problem, and most people will voluntarily pay the fare.

However, Xiao Lei occasionally gets in a hurry or gets confused, so he will forget this, and he has to wait until the next time he asks for a car to make up.

Sometimes it takes too long, Didi will send text messages or call to remind Xiao Lei, I am embarrassed.

Originally, it didn’t cost much to take a taxi, and it was enough to forget to make up for it, but some people chose to “escape the order.”

Looking at the data recently released by Didi, there are really a lot of people who are “escaping orders”! Two days ago, Sun Shu, CEO of Didi Car-hailing, sent an open letter on Weibo to the effect of introducing the carpooling business to the drivers. The open letter also revealed some other information: In 2020, Didi paid more than 500 million yuan in compensation for loss of income to drivers. Among them, the compensation fee for empty driving is 237 million yuan. 279 million yuan in advance of the fare due to passengers not paying the fare . In other words, in 2020, passengers “escaped” nearly 280 million fares, which is indeed not a small sum. The driver’s picking up and carrying passengers back and forth is equivalent to being “white prostitutes.” The money is not earned, and it is even more uncomfortable in my heart. Therefore, starting from 2016, when encountering this kind of “white prostitution” situation, Didi will first advance the fare to the driver. The advance payment process is like this.

In 2020, among the orders that passengers did not pay in time, more than 98.5% of the orders will be paid by Didi on the same day. For the remaining less than 1.5% of orders, Didi will further conduct manual verification to check whether there is any violation of the platform’s transaction order rules, such as the installation of cheating devices by drivers and malicious collusion between drivers and passengers. Approximately 0.01% of orders in 2020 have been verified as illegal orders, and Didi will not advance payment.

In 2020, among the orders that passengers did not pay in time, more than 98.5% of the orders will be paid by Didi on the same day. For the remaining less than 1.5% of orders, Didi will further conduct manual verification to check whether there is any violation of the platform’s transaction order rules, such as the installation of cheating devices by drivers and malicious collusion between drivers and passengers. Approximately 0.01% of orders in 2020 have been verified as illegal orders, and Didi will not advance payment. Many friends should not be very clear, what is the “white prostitution” method of sitting in Didi? The first is to give no money directly. This is usually a large order that is a long drive away. The fare ranges from a few hundred yuan to thousands of yuan. This part of the people who “escape orders” follow the “one-off deal” route. After escaping this order, they saved hundreds of thousands of yuan. As for whether they could take a taxi in the future, they didn’t care. The second type is technical “escape orders.” They use mobile phone virtual numbers or small taxi taxis. You don’t need to pay after you take a taxi, “lost it when you use it up,” and change your phone number next time you take a taxi. It won’t affect your original mobile phone number. So this kind of “escaping orders” is also the most popular way. However, now there are only a few virtual number platforms going back and forth. Sometimes there will be a virtual number after logging in to the taxi app, and the last “escape” order that has not paid the fare pops up… This is very embarrassing. Isn’t it spicy? If passengers fail to pay the fare in time, what will Didi do? First salute and then pawn, generally divided into three steps. First SMS notification , Didi will send text messages to inform passengers that the fare has not been paid. After all, not everyone wants to “escape orders.” Sometimes we are just in a hurry or forget. Followed by Driver call If the passenger does not pay the fare within 24 hours, the driver can call the passenger to return the fare. You can also use the Didi platform Dunning function Ask the passengers for the fare. The last step is Call the police Now, all the good things are said, but if it doesn’t work, you can only use some tough methods. If the amount of “escaping orders” exceeds 3,000 yuan, Didi will send a special person to deal with it, including but not limited to letter sending and door-to-door processing. If it is really impossible to negotiate, then a lawsuit is required, and the circumstances are serious and even criminal responsibility must be pursued. The processing flow is there, but not every order can be paid on time. The driver’s master has to support his family, but he can’t wait for each long wrangling. Therefore, Didi formulated The platform advances the fare Rules, and also apply to some situations Prepay before taxi Way. If we haven’t used Didi Taxi for a long time, or the journey is relatively long, or the account is at risk, the App may let us prepay the fare before using it. This operation was originally intended to be good, and it can indeed reduce “escape orders” to a certain extent, but it still received complaints from many passengers. On the one hand, the prepaid fare will be higher than the actual fare. Although Didi said that in the final settlement, it will “refund more and make up less,” but it still gives people the illusion of “I gave more.” On the other hand, this prepaid fare is not available to everyone. Some people think it’s unfair, so why should I pay the fare first, and others don’t need it? It’s not enough to be “escaped” by passengers, and merchants on second-hand trading platforms also have to come to pick up a handful of wool. These unscrupulous merchants first borrowed or misappropriated the accounts of Didi users, and then used false grounds to complain to the drivers. Through the complaint, the coupons for Didi compensation are obtained, and then the merchant will sell the coupons. These reasons are detrimental enough. “The driver is late,” “Pinyou brings more people,” “Pinyou is late,” and so on, all of which point to the “driver’s problem.” Every time a merchant gets a coupon, a driver may not be able to pick up the order because of a complaint. Now, in response to the aforementioned “driver complaint” incident, Didi issued a statement in February this year. Didi said it will cooperate with the public security organs to protect the rights and interests of drivers and passengers. At the same time, it will jointly remove the merchants involved in the second-hand trading platform. On May 19, Didi reported to the police after discovering a system vulnerability. On May 28, the man involved in the case, Zhu, was arrested by the police. Because of suspicion of fraud, Zhu is now under criminal detention. Good guy, in just a few months, Zhu complained to more than 2,000 driver masters who sold coupons in the second-hand market and made a profit of nearly 8,000 yuan without conscience. At present, Didi said that the related system vulnerabilities have been fixed, and the driver’s hanging heart can finally be let go. In fact, when the above problems arise, Didi has to carry a big pot as a platform. After all, problems such as system loopholes and poor supervision are beyond the control of the driver master and us ordinary people. Didi should improve relevant systems as soon as possible and formulate a stricter review mechanism. Don’t just send a coupon to calm down the situation as soon as the passenger complains or does not review it. The driver masters should also be hardened not to persuade them. If they encounter malicious evasion and complaints, they should communicate with the platform and report to the police for help if necessary. As ordinary people, we can consciously resist these unknown coupons and money-saving strategies in addition to not “escaping orders.” Being honest and doing things honestly is what society should be like

On June 10, at the 2021 Global Smart Logistics Summit, Alibaba CTO and Cainiao Chief Technology Officer Cheng Li announced that Cainiao will invest 1,000 logistics unmanned vehicles into campuses and communities, and revealed that Alibaba Dharma Academy and Cainiao has initiated the definition and research of open road unmanned logistics trucks.

Under the background of building vehicles in the whole industry, starting from the familiar logistics scene, and then moving to the unmanned truck freight track, it is undoubtedly the embodiment of Ali’s wisdom. Moreover, Ali’s car-building ambitions are not limited to “third-party” empowerment, especially in passenger cars. Ali not only invested in Xiaopeng, but also jointly established Zhiji Auto with SAIC and Pudong New Area, placing heavy bets. The reason may be due to self-confidence in its own autonomous driving technology.

In fact, there have been companies involved in the field of unmanned trucks, whether it is domestic Tucson Future, Pony Smart, Mainline Technology, or foreign Mercedes-Benz, Google, and even Tesla. With Ali’s entry, this field will become more active. At least, with the support of Cainiao’s data and the accumulation of autonomous driving technology of Dharma Academy, Ali should also make achievements in the field of unmanned trucks.

Didi goes public in the U.S., IPO is imminent

On June 10, U.S. Eastern Time, Didi Chuxing formally submitted an IPO application to the U.S. Securities and Exchange Commission (SEC). It plans to list on the Nasdaq Stock Market or the New York Stock Exchange under the ticker symbol “DIDI”. The amount is tentatively set at 100 million U.S. dollars.

It is understood that Didi’s IPO will raise approximately US$10 billion in funds and seek a valuation close to US$100 billion. If the listing goes well, Didi will become the largest IPO of a Chinese company in the United States since Alibaba raised $25 billion in its IPO in 2014.

From the perspective of capital, Didi seems to be a “unicorn fed by capital.” Since the day of its establishment, Didi has conducted 23 rounds of financing, with a total amount of more than 20 billion U.S. dollars. Moreover, it is Didi’s shared bicycle Qingju (valuation of US$1.9 billion), autonomous driving business (valuation of US$3.4 billion), Didi Cargo (valuation of US$2.8 billion), and Orange Heart (valuation of 1.8 billion US dollars). U.S. dollars) and other subsidiaries, the total valuation has reached nearly 10 billion U.S. dollars, not to mention its main business that occupies most of the Chinese travel market share.

In addition, Didi also defines autonomous driving, shared travel platforms, car service networks, and electric vehicles as four core strategic sectors in its prospectus. It is not difficult to see that Didi also intends to keep up with “car making”. After all, its related travel business scenarios have just solved the “mass use” demand of pure electric smart cars.

HKUST iFLYTEK has a thunderstorm, iFLYTEK’s input method is delisted, stock price plummets On June 11, iFLYTEK had a thunderstorm. Not only did the stock price drop by nearly 9.6% on that day, it was also a hot search on two microblogs called “XiTi”. The reason for this is that “the iFlytek input method was removed from the shelves of major mobile application markets” was the fuse that triggered the “thunderstorm” incident of iFlytek. Tracing back to the source, as early as May 1 this year, in the “Notice on the Illegal and Illegal Collection and Use of Personal Information by 33 Apps including Input Method” published by the National Internet Information Office, the iFLYTEK Input Method was “out of the top” and improperly collected users. Information problem. Judging from the current results, iFlytek’s rectification measures for the past one month do not seem to be in place. Therefore, the removal on June 11 is a further legal measure by the competent authority. But what is thinking is that if iFLYTEK is removed from the shelves today, will there be another XX input method coming out tomorrow? Excessive collection of user information has long become a common occurrence. But what is even more frightening is that some people are using the collected information to meticulously weave “Trumen’s world” one after another. While building information cocoon rooms, they are selling “false” beauty. But the good news is that people’s awareness of privacy is getting stronger and stronger, and the continuous removal of input methods will be a good start. Blue Origin sells its first commercial space travel ticket for $28 million On June 12, 2021, local time, an unidentified bidder bid for US$28 million (approximately RMB 180 million) to bid for Blue Origin, a space travel company owned by Amazon founder Bezos. Tickets for the first manned space flight. According to the plan previously announced by Blue Origin, the winning bidder will take the “New Shepard” (New Shepard) into space together with Bezos and his brother Mark on July 20 to embark on the first commercial tourism in space. It is reported that the first manned flight of the “New Shepard” will carry four passengers, including Bezos, Bezos’ brother, the winning bidder in this auction, and the fourth person will be announced later. On May 5 this year, Blue Origin announced the sale of a ticket for the first space cruise through an online auction. The initial bid for this ticket was 4.8 million U.S. dollars, but it exceeded 20 million U.S. dollars in the first few minutes of the auction. According to reports, the auction proceeds will be donated to Blue Origin’s education-focused non-profit organization “Future Club”, which provides support to young people interested in future science and engineering careers. BYD President Wang Chuanfu clarified “Persuade Lei Jun not to build a car” On June 13, at the 2021 China Automotive Chongqing Forum, BYD President Wang Chuanfu made a special clarification in response to his remarks three days ago that he advised Xiaomi not to build cars. Wang Chuanfu said: “There are reports that BYD persuades the founder of Xiaomi Technology Lei Jun not to build a car. This is wrong. Lei Jun and we have a very good cooperative relationship. We OEM a large number of Xiaomi phones and are strategic partners.” According to media reports, on June 10, Wang Chuanfu said at the Yabuli China Entrepreneurs Forum: “There are not many companies that have the advantage of making cars. Lei’s total investment of 100 billion yuan may be a loss of money and a waste of time.” No The young media interpreted it as “Wang Chuanfu advised Lei Jun not to build a car.” In general, this incident may not be counted as an Oolong by BYD. Moreover, the news of Lei Jun’s visits to major car companies continues, and BYD is also unable to push the partners who have been sent to the door. But the strategic direction and time-consuming thinking is indeed something that companies like Xiaomi need to do. Although, with the blessing of various large flows, the “cake” of “car building” is getting bigger and bigger, but cars must not only be built, but they must also survive. As President Wang Chuanfu said, there are three key points for making a car to “survive”. The first is to have core competitiveness; the second is to have a very precise strategy; and the third is to have a rapid decision-making mechanism. New energy vehicles are a new thing, and there are many routes, but if the route is skewed, it may suffer heavy losses. Cruise receives US$5 billion support from GM, and Waymo raises another US$2.5 billion On June 16, GM officially announced that GM Finance will provide Cruise with a $5 billion multi-year credit line to help the operation and expansion of Cruise Origin’s self-driving fleet. GM’s move is not only a further boost to autonomous driving, but also shows GM’s determination and confidence in the commercialization of Cruise. Coincidentally, the commercialization of the Cruise Dubai cooperation and the California unmanned vehicle passenger “license” is in full swing; Waymo, whose CEO and CFO have just resigned, has also begun to add weights, raising $2.5 billion in a lump sum. “Hot Money”. It is reported that Waymo’s financing news was also announced on June 16, investors including Google parent company Alphabet, Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Commission and other major capital. It has to be said that Waymo’s ability to attract funds is commendable, after all, after this financing, its valuation has reached 30 billion US dollars. But the increasingly serious problem of brain drain is also becoming a shackle of Waymo. In other words, as the concept of smart car making is deeply rooted in the hearts of the people, the competition for talent will become more and more serious. OnePlus merged with OPPO, is it an “Oga” mobile phone or an “Oga” car? On June 16, OnePlus CEO Liu Zuohu released an internal email, announcing that OnePlus mobile phones will be fully integrated with OPPO, and OnePlus will also become an independent brand of OPPO. This is another big move since OPPO exposed the car. OnePlus and OPPO are in the same line. Although both are independent brands, from a capital perspective, both OnePlus and OPPO are controlled by Ouga Holdings, which is also the basic condition for the two to merge. It is reported that as early as August last year, news of Liu Zuohu’s return to OPPO has flowed out on the Internet. At that time, OPPO gave the response: Liu Zuohu will return as the senior vice president of Ouga Holdings, and is fully responsible for the product planning and experience of Ouga . Of course, from the mobile phone market, the integration of the two will further strengthen OPPO’s market weight in the field of smart phones. However, the organization and personnel adjustments between OPPO and OnePlus seem to be related to car manufacturing issues. OPPO CEO Chen Mingyong may intend to let Liu Zuohu participate in part of the car building work, and Liu Zuohu also recently visited Li Xiang, the founder of Ideal Auto. C-dimensional star list/Tu Datong Reasons for the list: It can provide the most powerful hybrid solid-state lidar that has been installed in mass-produced models Innovusion, established in November 2016, is headquartered in Suzhou. It is an entrepreneurial company with the nature of a supplier. Its main research areas involve lidar, autonomous driving, and smart transportation. The founders are Bao Junwei and Li Yimin, both of whom are typical engineering masters and have more than 20 years of work experience. In January of this year, the cooperation between Tudatong and NIO revealed that on NIO DAY2020, the latest NIO ET7 equipped with a lidar provided by Tudacom officially entered the stage of history. It is understood that the radar has an ultra-wide viewing angle of 120 degrees, a high resolution equivalent to 300 lines, and a maximum detectable distance of 500 meters. Taking advantage of the hot spots of ET7, in May of this year, Tu Datong completed the B round of financing, the latest valuation of 300 million US dollars, a total of 64 million US dollars in financing. This round of financing was jointly invested by Temasek, BAI Capital and Joy Capital. Old shareholders NIO Capital, Stow Capital and F-Prime also participated. 1. Founder Bao Junwei & Li Yimin Second, best practices Tudatong claims to be the world’s first 300-line high-definition ultra-long range lidar provider. Related lidar products are mainly used in smart transportation, smart high-speed, urban rail transit, and mining. In addition to the dream linkage with Weilai, Tudatong also has related cooperation with Baidu. At present, Tudatong’s image-level long-range lidar has been deployed in Baidu’s Apollo intelligent transportation city project, including Beijing, Changsha, Cangzhou and other places. It is understood that Tudatong’s lidar products mainly include: Jaguar Elite Edition (for smart cities), and Aquila lidar (Falcon architecture) carried on Weilai ET7. See the figure below for details: Three, technical route TuDatong believes that lidar is the inevitable result of the evolution of autonomous driving. Compared with mechanical rotary lidar and solid-state lidar, hybrid solid-state radar has more advantages. In addition to being smaller and lower cost than mechanical rotary lidar, it is also more realizable than pure solid-state lidar. The lower the difficulty and the stronger the certainty, the easier it is to achieve. In addition, the standard detection distance of 300 lines and 250m is the other two points that Tudatong insists on. With a resolution of less than 300 lines, the human eye will miss some important information due to the large distance between the lidar wire harness and the wire harness when looking at the picture, which may be reflected in the perception system of the autonomous vehicle. Cause a traffic accident. The standard detection distance of 250m is because when an autonomous vehicle is driving at a high speed of 120km/h, the safe distance that can be reliably sensed is at least 250m. Fourth, there is a “money” way According to Tianyan Check, since 2017, Tudatong has experienced four rounds of financing, namely seed round, A round, strategic financing and the most recent B round of financing. The latest valuation reached 300 million U.S. dollars. Among them, it is worth noting that Weilai went directly off the market and participated in Tudatong’s A round and B rounds of financing. In addition to being optimistic about the lidar industry, it is also an affirmation of Tudatong’s technical capabilities

Looking at the data recently released by Didi, there are really a lot of people who are “escaping orders”! Two days ago, Sun Shu, CEO of Didi Car-hailing, sent an open letter on Weibo to the effect of introducing the carpooling business to the drivers. The open letter also revealed some other information: In 2020, Didi paid more than 500 million yuan in compensation for loss of income to drivers. Among them, the compensation fee for empty driving is 237 million yuan. 279 million yuan in advance of the fare due to passengers not paying the fare . In other words, in 2020, passengers “escaped” nearly 280 million fares, which is indeed not a small sum. The driver’s picking up and carrying passengers back and forth is equivalent to being “white prostitutes.” The money is not earned, and it is even more uncomfortable in my heart. Therefore, starting from 2016, when encountering this kind of “white prostitution” situation, Didi will first advance the fare to the driver. The advance payment process is like this.

In 2020, among the orders that passengers did not pay in time, more than 98.5% of the orders will be paid by Didi on the same day. For the remaining less than 1.5% of orders, Didi will further conduct manual verification to check whether there is any violation of the platform’s transaction order rules, such as the installation of cheating devices by drivers and malicious collusion between drivers and passengers. Approximately 0.01% of orders in 2020 have been verified as illegal orders, and Didi will not advance payment.

In 2020, among the orders that passengers did not pay in time, more than 98.5% of the orders will be paid by Didi on the same day. For the remaining less than 1.5% of orders, Didi will further conduct manual verification to check whether there is any violation of the platform’s transaction order rules, such as the installation of cheating devices by drivers and malicious collusion between drivers and passengers. Approximately 0.01% of orders in 2020 have been verified as illegal orders, and Didi will not advance payment. Many friends should not be very clear, what is the “white prostitution” method of sitting in Didi? The first is to give no money directly. This is usually a large order that is a long drive away. The fare ranges from a few hundred yuan to thousands of yuan. This part of the people who “escape orders” follow the “one-off deal” route. After escaping this order, they saved hundreds of thousands of yuan. As for whether they could take a taxi in the future, they didn’t care. The second type is technical “escape orders.” They use mobile phone virtual numbers or small taxi taxis. You don’t need to pay after you take a taxi, and you “lost it when you use it up.” If you change to a new trumpet next time you take a taxi, it will not affect your original mobile phone number at all. So this kind of “escaping orders” is also the most popular way. However, now there are only a few virtual number platforms going back and forth. Sometimes there will be a virtual number after logging in to the taxi app, and the last “escape” order that has not paid the fare pops up… This is very embarrassing. Isn’t it spicy? If passengers fail to pay the fare in time, what will Didi do? First salute and then pawn, usually in three steps. First SMS notification , Didi will send text messages to inform passengers that the fare has not been paid. After all, not everyone wants to “escape orders.” Sometimes we are just in a hurry or forget. Followed by Driver call If the passenger does not pay the fare within 24 hours, the driver can call the passenger to return the fare. You can also use the Didi platform Dunning function Ask the passengers for the fare. The last step is Call the police Now, all the good things are said, but if it doesn’t work, you can only use some tough methods. If the amount of “escaping orders” exceeds 3,000 yuan, Didi will send a special person to deal with it, including but not limited to letter sending and door-to-door processing. If it is really impossible to negotiate, then a lawsuit is required, and the circumstances are serious and even criminal responsibility must be pursued. The processing flow is there, but not every order can be paid on time. The driver’s master has to support his family, but he can’t wait for each long wrangling. Therefore, Didi formulated The platform advances the fare Rules, and also apply to some situations Prepay before taxi Way. If we haven’t used Didi Taxi for a long time, or the journey is relatively long, or the account is at risk, the App may let us prepay the fare before using it. This operation was originally intended to be good, and it can indeed reduce “escape orders” to a certain extent, but it still received complaints from many passengers. On the one hand, the prepaid fare will be higher than the actual fare. Although Didi said that in the final settlement, it will “refund more and make up less,” but it still gives people the illusion of “I gave more.” On the other hand, this prepaid fare is not available to everyone. Some people think it’s unfair, so why should I pay the fare first, and others don’t need it? It’s not enough to be “escaped” by passengers, and merchants on second-hand trading platforms also have to come to pick up a handful of wool. These unscrupulous merchants first borrowed or misappropriated the accounts of Didi users, and then used false grounds to complain to the drivers. Through the complaint, the coupons for Didi compensation are obtained, and then the merchant will sell the coupons. These reasons are also detrimental. “The driver is late,” “Pinyou brings more people,” “Pinyou is late,” and so on. All of these reasons point to the “driver’s problem.” Every time a merchant gets a coupon, a driver may not be able to pick up the order because of a complaint. Now, in response to the aforementioned “driver complaint” incident, Didi issued a statement in February this year. Didi said it will cooperate with the public security organs to protect the rights and interests of drivers and passengers. At the same time, it will take off the merchants involved in the joint second-hand trading platform. On May 19, Didi reported to the police after discovering a system vulnerability. On May 28, the man involved in the case, Zhu, was arrested by the police. Because of suspicion of fraud, Zhu is now under criminal detention. Good guy, in just a few months, Zhu complained to more than 2,000 driver masters. They made a profit of nearly 8,000 yuan by selling coupons in the second-hand market. At present, Didi said that the related system vulnerabilities have been fixed, and the driver’s hanging heart can finally be let go. In fact, when the above problems arise, Didi has to carry a big pot as a platform. After all, problems such as system loopholes and poor supervision are beyond the control of the driver master and us ordinary people. Didi should improve relevant systems as soon as possible and formulate a stricter review mechanism. Don’t just send a coupon to calm down the situation as soon as the passenger complains or does not review it. The driver masters should also be hardened and not persuaded. When encountering malicious evasion and complaints, they should communicate with the platform and report to the police for help if necessary. As ordinary people, we can consciously resist these unknown coupons and money-saving strategies in addition to not “escaping orders.” Being honest and doing things honestly is what society should be like

Recently, Didi Chuxing (hereinafter referred to as “Didi”) formally submitted an IPO application to the US Securities and Exchange Commission, and plans to list on the Nasdaq or New York Stock Exchange under the code “DIDI”. Goldman Sachs, Morgan Stanley, Morgan Stanley Chase and China Renaissance Capital acted as underwriters. It is reported that Didi’s valuation may reach 70 billion U.S. dollars.

In fact, as early as March this year, there was news that Didi was going to be listed on the Hong Kong stock market. In response to this IPO application, an insider close to Didi Chuxing told Qingcheng Auto, “It has not yet been determined which exchange is listed, even if it is The IPO in the United States this time does not rule out a secondary listing of Hong Kong stocks.” With the publication of Didi’s prospectus, its financial status and core business have also been disclosed.

According to the IPO documents issued by Didi, Didi’s revenue in 2020 will be 141.7 billion yuan, and its three major businesses – China’s travel business, international business and other business revenues will be 133.6 billion yuan, 2.3 billion yuan and 5.8 billion yuan respectively. Among them, the platform revenue of China’s travel business and international business will be 18.7 billion yuan, 24.2 billion yuan, and 34.7 billion yuan from 2018 to 2020, respectively, with an average annual compound growth rate of 36%. Of the platform revenue in 2020 and the first quarter of 2021, 93.4% came from China and 6.6% came from international sources.

In terms of profit performance, China’s travel business achieved an adjusted pre-interest and tax profit of 3.84 billion yuan in 2019, 3.96 billion yuan in 2020, and 3.62 billion yuan in the first quarter of 2021. In addition, the pre-interest, tax and amortization profit rate of China’s online car-hailing business in 2020 is 3.1%.

In terms of users, as of March 31, 2021, Didi has 493 million global annual active users and 15 million global annual active drivers. It is worth noting that among the 493 million active users in the world, 377 million are distributed in the Chinese market, and among the 15 million active drivers worldwide, nearly 87% of the annual active drivers are in the Chinese market. This data may mean that the huge demographic dividend in the Chinese market has contributed to the rapid rise of Didi.

Public information shows that Didi’s subsidiary “Beijing Xiaoju Technology Co., Ltd.” was established in July 2012, and its main business is to provide passengers with APP-based transportation services. Since its establishment, Didi has experienced many competitors, and it is known as Kuai, Uber, but in fact, Didi’s first opponent is “shook the car.” At the beginning of Didi’s establishment, Shaking Zhaoche had a certain scale. Not only was its user volume larger than Didi, it also had a hundred times as much capital as Didi.

In 2012, when smartphones were just emerging and 4G networks were not yet popular, Shake Zhaoche promoted his taxi-hailing software on radio stations. Didi founder Cheng Wei added an article to Shake’s ad: Now pick up the phone and call × ×× can be downloaded and installed, but downloading and installing through advertisements are all Didi software. In addition, Didi has also added a function to detect the user’s mobile phone in the software. If the user’s mobile phone has installed the remote car software, after downloading Didi, a dialog box will pop up: whether to uninstall Shaosha, it is based on this that Didi is being competed. The opponents yelled “hooligans”. It is undeniable that with this fierce competitive method, Didi defeated Shaker, Bumblebee, and the merger with Kuaidi, and quickly became the leading player in the online car-hailing market.

When the market and users believed that the car-hailing war was about to end, at the Yabuli summer summit in 2015, Uber President Travis Kalanick came to China to negotiate with Didi. Didi either accepted that 40% of Uber’s investment was acquired, or it had to Defeated by Uber. Because Cheng Wei rejected Uber’s proposal at the time, Uber came to China with proven successful operating experience in many countries and huge amounts of cash, and launched a “one dollar to fight the whole process” war against Didi.

At that time, Cheng Wei asked Liu Chuanzhi, the chairman of Lenovo, for advice. Liu Chuanzhi advised him to fight guerrilla warfare and give play to his local advantages. After a brief period of panic, Didi urgently launched an operation method that is more suitable for China’s mainland. The order-grabbing mode has been changed to dispatching orders, and services such as ride-hailing and driving on behalf of the company have also been launched. In the end, under the cooperation of Didi and Uber’s co-investor SoftBank Sun Zhengyi, Uber gave up the idea of ​​annexing the Chinese market. Uber and Didi share each other’s shares and are each other’s directors. All Uber China’s brands, businesses, data, channels, personnel, and equipment are all merged into Didi. So far, Didi has a 90% market share in the domestic online car-hailing market.

Didi’s application for IPO this time, the prospectus shows that Uber holds 12.8% of shares and 12.8% of voting rights. Cheng maintains 7% of Didi’s shares and 15.4% of voting rights. Didi co-founder and president Liu Qing holds 1.7% of shares. , The voting rights are 6.7%, Tencent holds 6.8%, and the voting rights are 6.8%; the SoftBank Vision Fund is the largest shareholder, holding 21.5% of the shares and 21.5% of the voting rights.

Regarding the purpose of this fundraising, Didi disclosed in the prospectus that it plans to use about 30% of the fundraising to expand its business in international markets outside of China; about 30% of the fundraising is used to enhance the use of shared travel and electric vehicles. And autonomous driving; about 20% is used to launch new products and expand existing product categories to continuously improve user experience; the remaining part may be used for working capital requirements and potential strategic investments.

It is worth noting that in this prospectus, Didi emphasized autonomous driving, which means that Didi will take autonomous driving as its main development direction for some time to come. At the same time, the prospectus data shows that after the end of the A round of financing, the valuation of Didi’s autonomous driving has reached 3.4 billion U.S. dollars.

In addition, Didi Autonomous Driving has recently completed a new round of financing including IDG and GAC. The current valuation of Didi Autopilot is reported to have exceeded US$5 billion. If calculated according to the size of startups, Didi Autonomous Driving is currently one of the most highly valued companies in China.

Recalling that in April this year, Didi announced its plans to build a car. Zhang Xiang, an automotive analyst, said that “Didi announced that it will build a car before, and does not rule out the possibility of raising its valuation for its IPO application.” In fact, since the financing round in August last year, Didi’s valuation reached 62 billion U.S. dollars and was supported by major companies such as SoftBank, Alibaba, and Tencent. According to Bloomberg, Didi’s valuation at the time of its IPO may reach 100 billion U.S. dollars. According to this valuation, the listing of Didi Chuxing will be the largest listing of Chinese stocks in the United States since Alibaba’s IPO raised $25 billion in 2014.

Jia Xinguang, an analyst in the automotive industry, said, “Electric vehicles are a trend, and companies from all walks of life are entering the market. Once they are successfully deployed in the electric vehicle industry chain, Didi will achieve a high return on investment. The online car-hailing business is regulated. Given the constraints, Didi relies on its own business resources to lay out the electric vehicle industry chain is a feasible way.”

It is undeniable that through the car-building plan, it can increase the valuation of its listing, but “interlaced as a mountain”, it is foreseeable that Didi’s “barbaric growth” path in the online car-hailing market may not be feasible in the new energy vehicle market. What is facing is the siege of many industry players and the challenge of new car forces.

Produced | Sohu Technology

Author | Yin Lina

Edit | Yang Jin

The listing rumors have been brewing for more than three years. In the morning of June 11, Didi finally submitted a prospectus and launched an IPO in the United States.

According to the prospectus, Didi’s stock code is “DIDI”, with Goldman Sachs, Morgan Stanley, JPMorgan Chase, and China Renaissance Capital acting as underwriters.

Since its establishment, Didi has gone through 22 rounds of financing with a total financing amount of nearly 80 billion yuan, making it a well-deserved financing expert.

However, from the perspective of performance, Didi’s online car-hailing seems to be huge, but only has a meager profit of 3.1%; international business is still losing money, and there are large variables due to the epidemic; new businesses such as freight and community group buying have just started. It is still a “cash-burning” machine, and profit is far from expected.

Performance dismantling: loss is still the main theme

Let’s look at the performance first. From 2018 to 2020, Didi’s revenue was 135.3 billion yuan, 154.8 billion yuan and 141.7 billion yuan, respectively. In the first quarter of this year, Didi’s revenue was 42.2 billion yuan.

From the above figures, it can be seen that in the past three years, Didi’s revenue growth has not been significant. Affected by factors such as the new crown epidemic in 2020, overall revenue has also declined slightly. However, the impact of the epidemic was eased in the second half of last year. The prospectus shows that in the second half of last year, the total transaction volume of Didi’s travel business in China was 121.6 billion yuan, an increase of 80.3% over the first half of the year and an increase of 12.2% over the second half of 2019.

In addition, losses are still the main theme of Didi. In the past three years, Didi’s net losses were 15 billion yuan, 9.7 billion yuan, and 10.6 billion yuan, respectively. The adjusted non-GAAP profits were 8.6 billion yuan, 2.8 billion yuan and 8.4 billion yuan. In the first quarter of this year, due to the unrecognized income of 9.1 billion yuan and an investment income of 3.3 billion yuan from the spin-off of Orange Heart Optimal, the investment income reached 12.36 billion yuan, Didi turned losses, net profit reached 5.5 billion yuan, and an adjusted loss of 5.5 billion yuan. yuan.

In terms of business, the main sources of Didi’s revenue are divided into three categories, namely, China’s travel business (China’s online car-hailing, taxi, agent driving and ride-hailing businesses), international business (international travel and food delivery, etc.) and Other businesses (shared bicycles and motorcycles, car service, freight, autonomous driving, financial services, etc.).

In 2020, these three types of income will be 133.6 billion yuan, 2.3 billion yuan and 5.8 billion yuan respectively. Among them, China’s travel business is the most important source of income, and the proportion of China’s travel business to total revenue is as high as 94.3%.

Among various expenditures, operating costs account for a large proportion, mainly commissions and subsidies paid to drivers. In the past three years, Didi’s gross profit margin was 5.5%, 9.8% and 11.2%, showing an upward trend year by year.

Among various expenses, marketing and marketing expenses accounted for the highest proportion. Last year, the total amount reached 11.14 billion yuan, accounting for 7.86% of total revenue. Followed by general and administrative expenses, about 7.55 billion yuan, accounting for 5.33% of total revenue.

Although as of the end of last year, Didi had 15,914 full-time employees worldwide, including 7,110 R&D employees, which accounted for 44.7% of R&D employees, the proportion of Didi’s technology and R&D related expenses was not the highest: last year it was 63.2 100 million yuan, accounting for 4.46% of total revenue. Finally, operating and support expenses are 4.70 billion yuan, accounting for about 3.32% of revenue.

In terms of operations, in the 12 months ending March 31, 2021, Didi has been operating in more than 4,000 cities and towns in 15 countries around the world. The total transaction volume of the whole platform is 341 billion yuan, of which Didi’s core platform GTV (referring to GTV in China’s travel and international markets) reached 244.2 billion yuan. With the exception of community group buying, the average daily order volume of all businesses reached 41 million, the annual active users reached 493 million, and the annual active drivers were 15 million.

However, the current progress is still far from the “0188” plan released by Didi in March last year. The “0188” plan shows that Didi will serve more than 100 million orders per day during the three years from 2020 to 2022, with a penetration rate of more than 8% for all domestic trips, and a global service user MAU of more than 800 million.

What is more worrying is that in Didi’s “main battlefield” Chinese market, the number of orders has shown a downward trend year by year, and the customer unit price has not increased significantly.

The number of Didi orders in the Chinese market dropped from 8.79 billion orders in 2018 to 8.67 billion orders in 2019 to 7.75 billion orders. However, this trend also has business adjustments and environmental factors. In 2019, Didi discontinued its ride-hailing business. Under the new crown epidemic in 2020, people will go out less frequently, and Didi has also suspended cross-city orders and ride-sharing services. In terms of customer unit prices, they were 23.3 yuan, 23.3 yuan and 24.4 yuan respectively in three years.

However, Didi has achieved profitability in the Chinese travel market: adjusted pre-interest and tax profit of 3.84 billion yuan in 2019, 3.96 billion yuan in 2020, and 3.62 billion yuan in the first quarter of 2021.

The rake puzzle: online car-hailing profit margin is only 3.1%

After the ride-hailing incident occurred in 2018, the outside world had a lot of discussions about Didi. In addition to inadequate security measures, the question of Didi’s profitability was the most acute.

Just when everyone thought that Didi was earning a lot of money, some media broke the news that Didi had “a total loss of 10.9 billion yuan in 2018 and a driver’s subsidy of 11.3 billion yuan”, and “the total loss in the six years of its business has exceeded. 40 billion yuan”.

Entering 2020, discussions on Didi’s high commission rate remain high, with some drivers claiming that the commission rate for some orders has even reached more than 30%. In response, Didi issued a statement stating that the proportion of such “extreme rake orders” was 2.7% last year, and it has now been reduced to 0.03%. The next step will allow this number to continue to decline until it is completely eliminated. Today, Didi has launched a transparent billing function, and drivers can view the flow of funds for orders in the past 7 days.

As a matter of fact, the situation regarding the commission of the online car-hailing business can be seen in the prospectus.

Look at the whole first. The prospectus shows that from 2018 to the first quarter of 2021, drivers from around the world earned more than 600 billion yuan in revenue on the Didi platform. In the Chinese market, in the online car-hailing business in 2020, the total revenue and incentives received by drivers will reach 117.4 billion yuan.

In the prospectus, Didi detailed the financial status of Didi in China’s travel market in 2020.

Last year, Didi’s total transaction volume in the domestic travel market was 189 billion yuan, of which the transaction volume from online car-hailing business (excluding taxis, private cars, and ride-hailing, etc.) was 148.6 billion yuan.

Excluding expenses spent on consumer subsidies and road tolls, Didi’s total revenue was 133.6 billion yuan. Among them, 110.5 billion yuan was used as driver income, accounting for 82% of revenue; 6.9 billion yuan was used as driver incentives, accounting for 5.2% of revenue, and the two together accounted for 87.9% of Didi’s total revenue, accounting for approximately total online car-hailing 79% of the transaction volume is consistent with Didi’s previously announced commission.

Earlier, on May 7, Didi car-hailing issued a statement on the “rake”, stating that in 2020, Didi car-hailing drivers accounted for 79.1% of the total payable by passengers. Of the remaining 20.9%, 10.9% are passenger subsidies, 6.9% are corporate operating costs (technology research and development, servers, security, customer service, manpower, offline operations, etc.), taxation and payment handling fees, etc., and 3.1% are online appointments Net profit of car business.

Overall, excluding driver income and driver subsidies, Didi will receive 16.2 billion yuan in its online car-hailing business. Excluding 12.2 billion yuan in operating expenses, Didi’s online car-hailing business before interest, tax and amortization The profit reached 4 billion yuan, and the profit rate was about 3.1%.

Didi doesn’t want to be just online ride-hailing

The slow revenue growth and the meager profit of domestic online car-hailing have forced Didi to find the next growth point.

In 2018, Didi began its international expansion, trying to replicate its experience in the Chinese market to the world, and was the first to enter Brazil, Mexico, Australia, and Japan. Prospectus data shows that Didi currently has operations in 15 countries around the world.

However, in the case of China’s local online car-hailing is only a meager profit, it is conceivable that it is difficult for the international business to make a profit, especially in the context of the new crown epidemic in foreign countries where there are still large variables. From the beginning of 2018 to the first quarter of this year, Didi’s international business losses have accumulated more than 10 billion yuan.

But one problem is that a series of new businesses such as shared bicycles and motorcycles, car services, freight transport, autonomous driving, and financial services only brought Didi 5.76 billion yuan in revenue last year, but at the same time it brought more than 8.8 billion yuan. The loss is more than twice the profit of online car-hailing.

This year, the loss has further expanded. In the first quarter of this year, the loss of new business in a single quarter reached 8.08 billion yuan. From 2018 to the first quarter of 2021, Didi’s losses in new businesses have totaled more than 26 billion yuan.

It is worth noting that these new businesses have completed independent spin-offs and financing in the first half of this year.

Last year, Qingju launched a round of financing. SoftBank and some other investors invested US$134 million and Didi invested US$750 million. At the beginning of this year, Qingju launched a Series B financing again, in which external investors invested US$166 million and Didi subscribed. A share of US$300 million in equity financing and a US$100 million in convertible notes. Qingju is currently valued at US$1.9 billion, and Didi holds 88.3%;

In the first quarter of this year, Didi Freight received US$1.5 billion in Series A financing, the latest valuation is US$2.8 billion, and Didi currently holds 57.6% of the shares;

Didi’s autonomous driving company has completed a US$1.5 billion Series A financing, with a valuation of US$3.4 billion, and Didi’s shareholding ratio is 70.4%.

Orange Heart Optimal conducted A1 and A2 rounds of financing in March this year. Among them, the A1 round of SoftBank Vision Fund injected US$900 million and the rest of the external investors injected US$100 million; the A2 round was funded by the management of about US$200 million, and the financing was completed. After Didi’s equity fell to 32.8%, it was no longer consolidated. However, in the A2 round, Orange Heart Pride issued USD 3 billion of convertible bonds to Didi. Didi has the right to convert the bonds into stocks before the expiration date of the convertible bonds and become the controlling shareholder of Orange Heart Pride again.

Although these new businesses are at a loss, it is not difficult to see how much Didi attaches importance to internationalization and new businesses from the purpose of fundraising: 30% of the funds raised are used to expand business in international markets outside of China; 30% The raised funds are used to improve technical capabilities including shared travel, electric vehicles and autonomous driving; the remaining about 20% will be used to launch new products and expand existing product categories to continuously improve user experience.

Today, Didi’s listing process has begun, but it will take more time to wait for these new businesses to grow into the next “ace” besides online car-hailing.

(Original article by Sohu Technology, please indicate the source for reprinting)

Text/Song Gui

On June 11, Beijing time, Didi Chuxing formally submitted an IPO prospectus with the stock code “DIDI” to the U.S. Securities and Exchange Commission (SEC). The number of shares to be issued and the price range have not yet been determined, but according to industry insiders’ speculation, Didi’s US stock market value will reach 100 billion U.S. dollars.

Previously, “LatePost” reported that Didi might be listed on Hong Kong stocks in 2021. Later, Tencent reported that Didi had suspended its Hong Kong IPO plan and reconsidered listing on US stocks. The main reason was that the Hong Kong market gave a valuation cap of only 80 billion. US dollars, while the US market can give a valuation of 100 billion US dollars.

In the “2020 China’s Top 200 New Economic Unicorns” released by the analysis agency iiMedia Consulting, Didi ranked third, but its valuation is only 400 billion yuan, about 65 billion US dollars.

Since its establishment in 2012, Didi has raised approximately US$30 billion in financing. As can be seen from the Didi IPO prospectus, executives from SoftBank, Boyu Capital, Alibaba, Tencent, and Apple are all on the board of directors. Multiple rounds of financing make Didi’s valuation inevitably a drumbeat. Only a US$100 billion valuation can bring excitement to the capital.

But can Didi’s existing business support a market value of US$100 billion?

The annual revenue of the three major businesses is 141.7 billion yuan, and travel is the absolute main force

According to the prospectus, Didi currently divides its revenue into three major businesses, namely, China’s travel business, international business and other businesses. The revenue of the three major businesses in 2020 will be 133.6 billion yuan, 2.3 billion yuan and 5.8 billion yuan respectively.

Everyone is already familiar with China’s travel business, which is to provide shared travel services, drawing a commission from the driver. As of March 31, 2021, Didi has 377 million annual active users and 13 million annual active drivers in China. In the first three months of 2021, the average daily order volume of the Didi platform is about 25 million.

On a global scale, Didi Travel’s operating network covers nearly 4,000 cities, counties and towns in 15 countries/regions. In the past 12 months ending March 31, 2021, the total transaction volume of the platform reached RMB 244.2 billion.

From the data point of view, Didi is undoubtedly the hegemon in the shared travel field. How does Didi defend its dominance? On the capacity side, Didi currently has the largest car rental network in China. The prospectus shows that as of March 31, 2021, Didi has approximately 3,000 car rental partners and more than 600,000 rental cars. According to data from China Investment Corporation, drivers who use Didi’s car rental program can save about 20% of the average rental price of the top 10 popular models compared to drivers who rent directly from the rental company.

In addition to the cost of vehicle rental, Didi also cooperates with gas stations and maintenance shops to allow drivers to enjoy discounts on refueling and vehicle maintenance. As of March 31, 2021, Didi has more than 8,000 cooperative gas stations. At the same time, to supplement the energy of electric vehicles, Didi has built the largest charging network in China. According to the data for the first quarter of 2021, Xiaoju Charging (including cooperation) accounted for more than 30% of the total public charging piles nationwide, and Didi drivers can use preferential discounts.

Transport capacity is one of the foundations of shared travel services. Didi obtains transport capacity guarantee by providing convenient services and preferential resources to car owners. Other travel companies will not be able to catch up with the investment in this area in the short term.

The second is the platform’s scheduling algorithm. According to Didi’s prospectus, its core assets are supply and demand forecasting and driver and passenger matching algorithms, which can accurately predict supply and demand fluctuations through AI, and dynamically adjust driver-side incentives in response to fluctuations to achieve inter-regional driver and passenger supply and demand. Balance, increase the driver’s income per unit time, and reduce the average time for passengers to call a taxi.

At the level of user activity, Didi faces great risks. With the addition of ride-hailing applications such as Baidu Maps, AutoNavi Maps, Air Travel, etc., travel companies with abundant transportation resources, such as Shouqi Car-hailing, Xiangdao Travel, and 3T Travel, get rid of Didi’s traffic advantage. , Relying on a larger flow entrance to seize part of Didi’s market. Personally, I have stopped using the Didi app for a long time, but instead use the more convenient AutoNavi map to take a taxi. AutoNavi covers far more functions than Didi, which means AutoNavi users The opening frequency is much higher than that of Didi, and AutoNavi can use WeChat location sharing, and the ease of use is much higher than that of Didi, which only has a single function for taxis.

For express consumers, the attractiveness of subsidies and discounts is higher than waiting time. Moreover, as Didi’s subsidies for drivers decline, Didi’s capacity has also begun to decline, and the waiting time for taxis during peak hours is lower than other times. The advantages of travel companies are not obvious. Although all travel companies are not fighting subsidy wars anymore, in the future, once currency liquidity improves, new players enter the market, and the subsidy war ignites, Didi can only passively fight.

As Yuanchuan Technology Review put forward in the article “The “Deflation Squeeze Dividends” of Meituan’s Lying Win”, the giants that existed during deflation can use the advantages of scale to squeeze small players and take advantage of the gap to improve their operating conditions. It is only temporary. Once the currency trend changes, everyone will come back to fight for subsidies if they have enough ammunition again. It’s not that there are no more people who challenge the overlord, but they all choose to be the “Voldemort” waiting for the spring in this cold winter.

Therefore, I think that Didi’s core revenue source, that is, shared travel business, has its own core advantages, but these advantages cannot play a decisive role in the battle. In terms of long-term growth, Didi’s road ahead is not a smooth one.

Lack of imagination in other business markets

In addition to travel, Didi’s three major businesses have “other businesses”, namely shared bicycles and motorcycles, community group buying, intra-city freight, financial services, etc.

Since the establishment of Didi’s two-wheeler business unit in June 2019, it has two brands, Qingju Bicycle and Street Rabbit Motorcycle. In March 2020, the two-wheeler business unit was upgraded to an independent business unit. At present, the two-wheeler market is dominated by Haro (Ant Financial), Qingju Bicycles, and Meituan Bicycles. According to the prospectus, as of March 31, 2021, Didi has deployed 5.2 million bicycles and 2 million electric bicycles in 220 cities in China. The revenue of shared bicycles and motorcycles increased from 200 million yuan in 2018 to 1.5 billion yuan in 2019, and revenue in 2020 reached 3.2 billion yuan, a very rapid increase.

Community group buying and intra-city freight can only be regarded as derivatives of Didi Chuxing. Didi launched an intra-city freight service in June 2020. With the help of Didi’s shared travel platform algorithm, it can match transportation demand and shared travel demand, and increase the utilization rate of shared travel vehicles. According to the prospectus, from July 2020 to December 2020, within six months of the launch of intra-city freight business, Didi completed 11 million orders in eight cities.

Community group buying also uses the algorithm of the Didi shared travel platform to help residential areas deliver some fresh produce, household necessities and other necessities. This demand was generated during the outbreak of the new crown virus. At present, there are many domestic companies including Meituan and Pinduoduo. All companies have entered the game. However, this business is often criticized. The People’s Daily has also criticized by name, “Don’t just worry about the flow of a few bundles of cabbage and a few kilograms of fruit, the technology giants, the stars and the sea of ​​technological innovation, and the infinite possibilities of the future are actually even more exciting Emotionally”.

The financial business of Didi is hardly mentioned in the prospectus. The addition of financial lending services in the APP has basically become the consensus of domestic Internet giants, but currently only Ant Financial, JD Finance, and WeBank have large markets. Didi Chuxing Compared with other service apps, the frequency of users opening is not high, and the ride-hailing scene does not fit well with financial lending. Therefore, it is conceivable that the financial road is not suitable for Didi.

Other businesses basically carry Didi’s business exploration beyond its main business, but from the perspective of market size, these projects are difficult to support a greater imagination in the capital market.

Electric car Didi just taste it

It has to be said that electric vehicles are the most popular territory in the capital market at this stage. Weilai Automobile closed at $45.68 per share on June 11, with a total market value of $74.848 billion. And in the long run, it may only be a matter of time before Weilai Automobile becomes a car company with a market value of 100 billion U.S. dollars.

It is a pity that Didi wants to prop up its market value of hundreds of billions of dollars without taking advantage of electric vehicles. In fact, in addition to its three major businesses, Didi has four core strategic areas, namely shared travel, car service, electric vehicles, and autonomous driving. Even for electric vehicles, it has also given a clear time chart, including hydrogen fuel cell vehicles. All considered.

However, Didi’s participation in new energy vehicles at this stage can only be side-by-side. In 2020, Didi and BYD jointly launched the first car D1 for travel scenarios. So far, 1,000 D1s have been put into operation. In the D1 project, Didi mainly entered design requirements, and specifically customized and developed battery BMS systems and car-machine systems for shared travel scenarios.

In May of this year, Didi once again announced the cooperation with GAC Aian to jointly develop a pre-installed and mass-produced electric Robotaxi for shared travel scenarios. This will be the second time that Didi has cooperated with OEMs to build new energy vehicles. However, it is clear that the two vehicles were built with the focus on Didi’s shared travel business and did not take the opportunity to make more in-depth actions in the new energy vehicle market.

According to an insider of an auto parts supplier, people from Didi, Baidu, Huawei, and Xiaomi have been in contact with procurement matters before. The impression of Didi’s team is very professional, at least much more professional than the people at Huawei and Xiaomi. As the most recent Internet technology giant in the automotive field, Didi should have had the opportunity and ability to participate more deeply in the new energy vehicle chain, such as the research and development of three electric technologies, the supply of overcharging and point-switching technologies, etc., but it is subject to Didi missed the new energy vehicle track due to the operating and financial pressure of its main business.

Autonomous driving business: the ideal is full, the reality is skinny

Autonomous driving is an opportunity to match the shared travel business direction and face the wind. In 2016, Didi first recognized the deployment of autonomous driving. In 2019, Didi registered “Shanghai Woya Technology Co., Ltd.” in Shanghai and began independent financing. In the same year, it obtained Shanghai’s first batch of demonstration application licenses for intelligent networked vehicles. Currently, Didi Auto The driving team has a size of 500 people.

In June 2020, Didi began its Robotaxi trial operation in the Shanghai Jiading Intelligent Networking Test Area. Currently, there are about 36 Robotaxi modified by Volvo XC60 in operation in Jiading.

In terms of common indicators for measuring autonomous driving companies, fleet operation scale and total test mileage, Didi’s autonomous driving is not the first echelon, but Didi’s advantage lies in relying on a large number of shared travel vehicles to obtain a wide range of real road traffic data . As Didi’s irreplaceable core advantages repeatedly mentioned in the prospectus: “Our advantages are built on our experience in operating a shared mobility platform at tremendous scale as well as our massive repository of real-world traffic data, which is not easily replicable.”

Wei Junqing, CTO of Didi Autonomous Driving, previously stated that Didi is the only autonomous driving company in the world with data on hundreds of billions of kilometers. 50% of Didi’s online ride-hailing devices are equipped with orange vision recorders to collect real road conditions during driving, which can collect nearly 100 billion kilometers each year. This information will be used for the training of autonomous driving models.

In theory, Didi does have a unique advantage, with the ability to collect information beyond Tesla’s shadow mode, and data will be the food that feeds the evolution of the autonomous driving system. But this set of logic requires strong data sorting capabilities, data training models, virtual simulations, large computing power supercomputing platforms, and visual algorithm optimization and development capabilities as support.

The video collected by the sensor can only be called material, and only the information that can be used to train the automatic driving algorithm after effective processing can be called data. Faced with a large amount of material, it is very difficult for Didi to be logically self-consistent. It needs to find typical scenarios that are valuable for autonomous driving training from the huge daily information, and conduct targeted training on autonomous driving algorithms through virtual simulations. Such technologies need to be verified, which requires strong computing power. In order to process the massive data returned by vehicles, Tesla has developed a supercomputer Dojo that can support video-level unsupervised neural network training.

Therefore, although Didi has unique advantages, it does not mean that Didi has a shortcut to self-driving. In terms of fleet size, test mileage, coverage of cities, and even the number of patents, Didi’s current performance of autonomous driving cannot effectively help Didi to hold up a good-looking valuation.

With shared travel, new energy vehicles, and autonomous driving, Didi seems to have set foot on every tuyere, but it seems that it is unable to establish an absolute defensive barrier in every tuyere.

Do you think Didi can hold up a $100 billion valuation?

With a valuation of over 600 billion yuan, the world’s largest travel giant is about to go public!

On June 11, Didi Chuxing formally submitted a prospectus to the US SEC, officially sprinting for listing.

After 10 years of long-distance running and 22 rounds of financing, the largest travel giants in China and even the world have finally entered a new chapter.

Didi’s prospectus has a huge amount of information, including data that shocks the world, such as 493 million global annual active users and 15 million annual active drivers. Create nearly 600 billion yuan in revenue for platform drivers in 3 years…

But there are also multiple hidden worries, such as a three-year loss of 35.3 billion yuan, and continued large-scale profitability is still far away; the future of the autonomous driving business is uncertain; and it is also conducive to high-hanging antitrust supervision.

As a rare super unicorn that has not yet been listed in the past 10 years, who has benefited the most from this round of wealth creation myth Didi? Under the anti-monopoly background, where will its future go?

one

From the perspective of the shareholding structure disclosed in the Didi prospectus, among the hundreds of billions of dollars in valuation, The biggest beneficiary is SoftBank Group . That’s right, it is the Japanese richest man Sun Zhengyi who voted for Ali to become a god in the first battle.

Since its founding in 2012, Didi has seen endless battles and countless small battles over the past 10 years. Fortunately, the reckless era of mobile internet has given it tremendous gains.

As of Q1 of 2021, Didi has been operating in more than 4,000 cities and towns in 15 countries, including China. Its businesses include online ride-hailing, taxis, ride-hailing, shared bicycles, shared motorcycles, on behalf of driving, and car services. , Freight, finance and autonomous driving, etc., the king of proper travel.

Of course, without those 22 rounds of huge financing, there would be no Big Mac today.

According to data, Didi has completed 22 rounds of financing, with a total amount of more than 100 billion yuan.Didi The gold owners include SoftBank, Ali, Tencent, Apple, Hillhouse, Sequoia, and China Merchants Bank, Bank of Communications, Foxconn, Toyota, Morgan Stanley, JP Morgan Chase, Goldman Sachs…the lineup is unprecedentedly luxurious.

In this day group, the highest shareholding ratio of Softbank reached 21.5%, compared with the founder Cheng maintaining only 6%, and co-founder Liu Qing holding 1.7%.

If calculated at a valuation of US$100 billion, Softbank’s investment in Didi will return as much as US$21.5 billion (137 billion yuan), enough to make Son Zhengyi the richest man in Japan again…..

And Didi is not short of money now. The sprint to go public has a lot to do with the eagerness of shareholders like SoftBank to exit.

Why are shareholders eager to withdraw? First of all, although Didi is the world’s largest giant, it still bleeds.

Looking at the data, its annual revenue from 2018 to 2020 is 135.3 billion yuan, 154.786 billion yuan, and 141.736 billion yuan, respectively. The net losses were 15 billion yuan, 9.7 billion yuan, and 10.6 billion yuan, respectively, with a huge loss of 35.3 billion yuan in three years.

With such losses every year, no matter how strong and firm shareholders are, they will not turn a blind eye to it, and there is a need to cash out as soon as possible.

Secondly, after the anti-monopoly storm in China, Didi has entered the supervision field. In May, it was jointly interviewed by eight major departments including the Ministry of Transport. , Requiring the platform to draw a high percentage, arbitrarily adjust pricing rules, and arbitrarily increase membership fees and other issues to immediately carry out rectification.

Under the high pressure of supervision, Didi’s valuation is no longer the same as it was three years ago, and various uncertainties and risks have also followed.

Therefore, the era of Internet giants making big fortunes has completely ended. Didi shareholders can no longer calmly accompany them, and the exit from the listing has become inevitable.

Moreover, the prospectus also pointed out that the board members appointed by Softbank will resign as Didi directors after the prospectus takes effect. This means that the major shareholder SoftBank has no desire to fight, you know what to do after listing.

This can also be seen from the use of Didi’s fundraising. The prospectus shows that Didi’s fundraising will be used in three aspects:

About 30% is used for international expansion, about 30% is used to improve technical capabilities including shared travel, electric vehicles and autonomous driving, and about 20% is used to launch new products and expand existing product categories to continuously improve user experience .

It can be seen that Didi spends all its money on expanding international business, investing in future technologies, and improving user experience. It is not a lack of money that requires a blood transfusion on the market.

In addition, Didi’s uncertain future technology also makes shareholders anxious.

two

Didi summarizes the current complex business lines into four cores and three major businesses.

The four cores are shared travel platforms, car service networks, electric vehicles and autonomous driving. The three major businesses are mainly Didi’s revenue composition. They are China’s travel business (online car-hailing, taxi, agent driving, and ride-hailing, etc.), International business (international travel and food delivery) and other businesses (shared bicycles, freight, autonomous driving, financial services, etc.).

Among them, autonomous driving is regarded by Didi as a key trump card in the decisive battle for the future.

We have said that the most prosperous 10 years of mobile internet have passed. In the future, model innovation will gradually fail. Real technological innovation is the kingly way.

Didi has also seen this trend and made a huge transformation.

As of the end of 2020, Didi has 15,914 full-time employees worldwide, of which 7,110 are R&D employees, and R&D employees account for 44.7%. At that time, Didi, which focused on operations and marketing, has gradually increased investment in R&D and innovation.

Speaking of technological innovation, in the field of travel, electric vehicles and autonomous driving solutions are definitely inevitable, and Didi has long established a plan for this.

In August 2019, Didi split the autonomous driving department into an independent company to focus on autonomous driving research and development. In May 2020, Didi Autopilot announced the completion of a round A financing of over US$525 million, which was jointly invested by Didi and Softbank.

After the A round, the valuation of Didi’s autonomous driving has reached US$3.4 billion, but it has recently been revealed that it has completed a new round of financing of US$300 million, and its valuation may have exceeded US$5 billion.

In addition, 30% of the funds raised this time will be invested in technologies such as shared travel, electric vehicles and autonomous driving, and Didi’s expectations for autonomous driving technology are self-evident.

However, autonomous driving is a big challenge. Technically, it involves functions such as visual computing, AI, 5G, human-computer interaction, as well as hardware such as lidar and chips, and the technical requirements are extremely high.

At the competitor level, the autopilot circuit has been chased by the two giants Tesla and Huawei, as well as players such as Xiaopeng and Baidu.

Judging from past experience, if Huawei does not do it, it will be a blockbuster. Every time it enters a track, it will have a strong voice and let its opponents walk on thin ice.

Now that Huawei’s autonomous driving technology equipped with lidar is mature, car companies such as BAIC and Changan may become its customers. On the other hand, Didi, although the valuation of the autonomous driving company has reached 5 billion US dollars, the specific results have not yet landed.

It is difficult to say whether Didi, which has crossed over from the Internet, can match Huawei in technological innovation, and it is difficult for shareholders to see clearly. This is the problem.

The vigorous model innovation is coming to an end. The market has no patience for Internet giants such as Didi, which have been losing money for years. For example, Kuaishou has plummeted by 50% after its listing, and giants such as Meituan and JD are also making significant adjustments.

Under the regulatory storm, the main business has suffered huge losses year after year, coupled with the huge challenge of autonomous driving. It is still a question of whether Didi, which has many worries, can hold the 100 billion U.S. dollar valuation…

Review of large-scale summits:

Nirvana Rebirth-2020 China Equity Investment Annual Summit

New Capital Bureau—2020 China Fund Partners (GPLP) Summit

Gathering Potential-2019 China Equity Investment Annual Summit

Capital Breaks-2019 China Fund Partners (GPLP) Summit

Return to Value Investment—2018 China Equity Investment Annual Summit

Big Waves Washing the Sand—2018 China Fund Partners (GPLP) Summit

Hundreds of Waters Strive for Streams—2017 China Equity Investment Annual Summit

The Great Era of Equity Investment—2017 China Equity Investment Summit

Looking for Capital Opportunities in Transformation—2016 China Equity Investment Annual Summit

Annual list review:

Investor.com 2020 China Equity Investment Annual Series List Released

Investor.com 2020 China Fund Partners Annual Series List Announced

Investjia.com announced the 2019 China Equity Investment Annual Series List

Investjia.com announced the 2019 China Fund Partners Annual Series List

Investjia.com announced the 2018 China Equity Investment Annual Series List

Investjia.com announced the 2018 China Fund Partners Annual Series List

Investjia.com announced the 2017 China Equity Investment Annual Series List

2016-2017 China’s equity investment industry series list announced by Investjia.com

Investjia.com announced the 2016 China Equity Investment Annual Series List

Seek coverage: yangqin6060 (WeChat)

Delivery BP: bp@wefinances.com

The boots finally landed and Didi is about to go on the market.

On June 11, Didi formally submitted the IPO prospectus to the SEC, with the stock code “DIDI”. Many media reported that Didi’s valuation at the time of the IPO may reach around US$100 billion. According to data from PitchBook, after a round of financing in August last year, Didi’s latest valuation was US$62 billion and was supported by investment giants such as SoftBank, Alibaba and Tencent. This means that the valuation of Didi Chuxing has risen by more than 50% in the past year.

This is related to the recent re-approval of shared travel by capital. Uber’s closing price on the first trading day of 2020 was $31.37 per share. As of the close of trading on June 10, 2021, Uber’s stock price is US$49.55 per share, and the latest total market value is US$92.746 billion. In one year, Uber’s stock price rose nearly 60%.

There are many mysteries surrounding Didi. For example, is it profitable? How many people will realize their dream of getting rich in the listing carnival? As Didi submits its prospectus, these “fogs” are dispersing.

Another wealth creation movement

Public information shows that Didi Chuxing has conducted about 21 rounds of financing before, with a total financing of more than 20 billion U.S. dollars. Investors include investment institutions such as SoftBank China, Jinshajiang Venture Capital, Hillhouse Capital, and Sequoia Capital, as well as Apple, Toyota, and Tencent. , Alibaba, Ant Group and other companies. According to a rough estimate, Didi Chuxing has more than 41 institutional investors, many of whom are old shareholders who have been with them for many years and have raised multiple rounds.

Every super IPO is a capital feast, which will give birth to rich people in batches, and even change the ranking of the Forbes rich list. At the same time, workers from big factories have also directly entered the upstart class.

So what is the specific shareholding ratio? According to the prospectus, among institutional investors, Softbank Vision Fund Entity holds 21.5% of shares and 21.5% of voting rights; Uber holds 12.8% of shares and 12.8% of voting rights; Tencent holds 6.8% of shares and 6.8% of voting rights. .

Cheng Wei, founder, chairman and CEO of Didi

As for individual shareholders, Didi’s founder, chairman and CEO Cheng maintains a 7% stake in Didi and 15.4% of the voting rights; Didi co-founder and president Liu Qing holds 1.7% of the shares and 6.7% of the voting rights; Senior Deputy Eight directors and executives, including President Zhu Jingshi, Chief Technology Officer Zhang Bo, and CEO Sun Shu of the ride-hailing business, have not shown specific data because their shareholding ratio is less than 1%.

However, the prospectus mentions that Didi executives and directors together hold 10.5% of the equity and 20.1% of the voting rights. This also means that these 8 directors and executives together hold approximately 1.8% of Didi’s shares, which is about 0.225% per person on average.

If calculated according to Didi’s USD 100 billion valuation, Cheng Wei’s net worth is approximately USD 7 billion (approximately RMB 44.7 billion). According to the real-time data of the Forbes World Rich List, Cheng Wei will be ranked about 390 on this list; Liu Qing’s net worth will exceed 1.7 billion U.S. dollars (about 10.8 billion yuan), and the average net worth of the other eight executives will be 225 million U.S. dollars. (About 1.44 billion yuan). This also means that with the listing of Didi, two tens of billions and eight billionaires will be born.

In addition to this, “beating up workers” is also a beneficiary of the wealth creation plan. The prospectus shows that as of the end of May 2021, employees and consultants have a total of 48.08 million common stock options, with a shareholding ratio of approximately 4.267%, and the grant period is from March 2015 to April 2021. If calculated according to the valuation of 100 billion US dollars, the value of this part of the stock will be close to 27.25 billion yuan.

At present, the prospectus does not mention the number of employee shareholding platforms. If calculated according to the total shareholding, the average per person is more than 1.71 million yuan. As of the end of 2020, Didi has 15,914 full-time employees worldwide.

Looking at history, similar stories have been unfolding in the past two decades:

Tencent went public in 2004, and the original equity created 5 billionaires, 7 multimillionaires and more than 100 millionaires;

A total of 8 billionaires, 50 millionaires and about 250 millionaires were born in Baidu’s IPO;

When 360 went public, Zhou Hongyi had a net worth of approximately US$1 billion, and each employee held a stock market value of US$480,000;

Xiaomi’s prospectus mentions that 7,126 people have entered the equity incentive plan. The pre-IPO employee share option plan’s incentive quota is approximately US$6.96 billion, or US$976,700 per capita.

The most recent example is that on February 5 this year, Kuaishou landed on the Hong Kong Stock Exchange and its stock price soared to 393.6 Hong Kong dollars per share, with a market value of over 1.2 trillion Hong Kong dollars. Benefiting from this, Kuaishou co-founder and CEO Su Hua and co-founder and chief product officer Cheng Yixiao have net worth of US$18.7 billion and US$14.8 billion. In addition, Kuaishou Technology’s other two individual shareholders, Yinxin and Yang Yuanxi, entered the Forbes new billionaires queue for US$3.1 billion and US$2.7 billion respectively.

At the same time, according to the Kuaishou prospectus, Kuaishou has a shareholding platform with 4,551 employees. As of September 30, 2020, a total of 524 million Class B shares have been subscribed. According to the stock price of Kuaishou at the time of listing, the per capita net worth exceeds 30 million Hong Kong dollars.

This quickly gave birth to a group of Internet upstarts. After Kuaishou went public, an employee said in an interview that he had worked in Kuaishou for more than 3 years and held shares worth nearly 30 million yuan. After deducting 45% of personal income tax, he received about 16.5 million yuan.

To buy a house?

After the “beaters” turned into upstarts, their needs were also very simple-to buy a house.

For example, last year, when Ant Group was preparing to go public, housing prices in Hangzhou boiled, and some owners increased their prices by one million overnight, and Wenzhou real estate speculators joined the panic buying.

This situation happens from time to time in cities where the Internet is concentrated, such as Shenzhen and Beijing. Taking Beijing as an example, the current Internet industry is roughly distributed in four major sectors: Baidu, Tencent, Kuaishou, Xiaomi, Sina, etc. are gathered in Houchang Village; Ali, Meituan, Momo, etc. in Wangjing; JD.com stands out in Yizhuang; BYTE Beating, Shangtang, and iQiyi remain in Zhongguancun.

The area where these companies are located is also a hot spot for real estate transactions in Beijing. In an interview with the Economic Observer, a real estate consultant in the Dongxiaokou sector in Changping, Beijing revealed that Ali, Tencent and Kuaishou employees mostly bought large units of 140 square meters, aged around 30; Baidu employees mainly purchased 88, 110 square meters. Buyers of the medium-sized apartment are younger, and the youngest is only 24 years old. In the small apartment of 65 square meters, the employees of Netease, Sina and Meituan accounted for the majority.

In terms of user portraits, customers with Internet backgrounds are less price-sensitive, and generally grab good floors and apartment types; and the pace of buying houses is very fast, and many of them are booked after reading them. Even during the epidemic, the sales offices were closed, and some Internet and financial industry customers had never seen what the house looked like, so they paid the full payment and booked the house remotely.

In many cases, it is these “beaters” who have become the sales champions among real estate consultants. There was a real estate consultant who sold over a hundred houses to upstarts in half a year. For this reason, real estate consultants even change their working hours. It is normal to leave work at 12 o’clock in the evening. The sales office is staffed 24 hours a day in order to adapt to the work rhythm of Internet people 996 and 007.

Of course, the reason why these technology upstarts have become the main buyers of houses in some areas is that on the one hand, the personal wealth increase brought about by the listing, on the other hand, most Internet companies can help solve the household registration or work residence permit. At the same time, some companies will also provide employees with interest-free or low-interest loans of about 500,000 yuan as employee housing benefits.

After Didi goes public, similar stories may continue to repeat itself. The real estate agent has been “just about to move.”

Source: Capital Detective Zhou Yongliang

In response to the feedback from many driver masters that “carpooling has picked up multiple passengers and only received money from one passenger”, Sun Shu first explained the pricing rules of drivers and passengers in the carpooling scenario.

Take the carpooling itinerary in the above figure as an example. From the point where passenger A gets on the bus to the point where passenger B gets off, it is the driver’s billing itinerary. According to the real-time pricing rules of express trains, the driver’s income is calculated according to the actual mileage and duration.

In other words, from the time the first passenger gets on the bus to the last passenger gets off, the whole journey will be priced in real time by express.

For ride-sharing passengers, each person only needs to pay for the ride-sharing price for this journey.

On the one hand, the price of carpooling is a discounted price given by thanking users for willingness to share their seats, and on the other hand, it also allows every user to feel the “certainty” of the price, and there is no need to worry about congestion or detours when sending carpooling friends. Even if the traffic jam or the distance is a bit winding, the driver can still earn income based on the actual mileage and duration.

There is also a driver’s master who raised a question of rake:

“I pulled three carpool orders today and asked how much each passenger paid. The amount of each order is different. How do you calculate it?” According to the driver’s own algorithm, the platform took 28.99%. , 17.56%, -16%.

So, why is the money taken by the platform different for different ride-sharing orders?

Sun Shu explained, In the car-sharing scenario, the gap in the proportion of drivers’ income is relatively large. Generally, Pinyou is particularly smooth. The higher the degree of route overlap, the lower the proportion of the driver’s income to the total passenger payment. However, the Didi platform also promises that if this proportion is less than 70%, it will replenish the driver.

Sometimes due to severe route congestion, temporary cancellation of Pinyou, and failure to join together, there will indeed be “negative commissions”, that is, the driver’s income is greater than the passenger fare.

According to Sun Shu, For every 5-6 ride-hailing rides, one ride is negative, That is, the platform is losing money.

In order to encourage more drivers to take more carpool orders, Starting from June 14th, Didi Chuxing will pilot the “Morning Peak Zero Commission” plan in Taiyuan, Nanjing, Yantai, Shaoxing and other cities on weekdays from 7 am to 10 am, and it will gradually cover the whole country, and all passengers who make orders The total fare paid is paid to the driver in full.

In the driver’s bill of the ride-sharing 0 commission plan, you can see the total amount paid by all passengers, the amount of real-time pricing for the driver’s entire trip, and the amount of subsidies (if any) on various platforms.

When the passenger’s total payment amount is less than the driver’s real-time pricing amount, the driver still earns income according to the real-time pricing. In other words, when the passenger pays insufficient fees, the platform will replenish the driver’s master.

In 2020, Didi issued a total of more than 500 million yuan in compensation for loss of income to the masters.Among them, the compensation fee for empty driving is 237 million yuan, and the fare advance due to passengers not paying the fare is 279 million yuan. ——The latter is the fare in 2020 that has been reminded by SMS and other methods but passengers have not yet paid.

“Shooting” is an automobile section under the venture state. We will use a brand-new content format to bring you new opportunities to “stalk” the global automotive industry.

This week’s auto industry event guide: Didi submitted its listing application, Zhang Jingyu joined Gaohe Automobile as the CDO, LG New Energy officially launched its listing, Wang Chuanfu refuted the rumors: Lei Jun did not persuade Lei Jun not to build cars, Byte Beat or enter the auto industry…

Big company & big event

1. Didi submits a listing application and management voting rights exceed 50%

On the morning of June 11, Beijing time, Didi formally submitted its listing prospectus to the SEC. The prospectus shows that before the IPO, Didi founder and CEO Cheng maintained 7% of the shares, and co-founder and president Liu Qing held 1.7%. According to the conventional same-share non-rights arrangement, Cheng Weiliuqing has more than 48% of the voting rights in total, and Didi’s management, including Cheng Weiliuqing, has more than 50% of the voting rights.

At present, many domestic Internet companies such as JD.com, Xiaomi, and Pinduoduo have adopted the AB share model, which is the same share with different rights. The founders such as Liu Qiangdong, Lei Jun, and Huang Zheng also use this method to hold shares even though they have not reached absolute control. Degree, but able to firmly control the company.

2. Internet giants re-enter the bureau to build cars, Zhang Jingyu joins Gaohe Automobile as CDO

On June 7, Chinese Express officially announced that Mr. Zhang Jingyu, the former co-president of Autohome, had officially joined the company as Chief Digital Officer and reported to Chairman Mr. Ding Lei. Zhang Jingyu will be responsible for the full-scene data management, and realize the improvement of production efficiency and service efficiency through artificial intelligence and data-driven, and help Huaren Express Gaohe Automobile to create a new ecology of user experience.

Mr. Zhang Jingyu graduated from Jilin University of Technology with a Bachelor of Science degree in computational mechanics. He has served successively as the head of the ORACLE ERP department of Digital China, the head of the PCCW product department of PCCW, the deputy general manager of Sina Auto, and the co-president of Autohome.

3. Wang Chuanfu refutes rumors: Lei Jun did not persuade him not to build cars

BYD Chairman Wang Chuanfu said at the 2021 China Automotive Chongqing Forum that it is a misunderstanding to persuade Lei Jun not to build cars, and he is discussing cooperation in the automotive field with Xiaomi.

Wang Chuanfu pointed out that the issue was misunderstood by the media, saying that BYD persuaded Xiaomi’s Lei to not build cars. In fact, Xiaomi and BYD have a very good cooperative relationship, because BYD has produced a large number of Xiaomi mobile phones for Xiaomi, BYD and Xiaomi It is a very strategic partnership.

In the future automotive business, BYD will also support Xiaomi’s development in the automotive field. Not only does it support, BYD is also willing to cooperate with Xiaomi in the automotive field, and is negotiating some projects.

4. LG New Energy officially launched its listing

According to Korean media reports, South Korean battery manufacturer LG Energy Solution Ltd. (LG Energy Solution Ltd., referred to as “LG New Energy”) has submitted an application to the Korea Stock Exchange to officially launch the listing process and seek an initial public offering (IPO) within the year. ). The company’s valuation may reach 100 trillion won (approximately US$90 billion), and it plans to raise US$10 billion to US$12 billion, which is expected to set the record for the largest IPO in South Korea.

5. ByteDance obtains the “Byte Car” trademark or will enter the automotive industry

According to the company’s search information, Bytedance has obtained the trademark “Byte Car”. The trademark “Byte Car” has been transferred recently. The transferee company is Beijing Bytedance Network Technology Co., Ltd. The international classification includes 42 types of design research, 38 types of communication services, 9 types of scientific instruments, etc.

Prior to this, ByteDance has begun to deploy in the automotive field. For example, Qingzhou Zhihang, which is aimed at the urban smart travel market, announced that it has received tens of millions of dollars in A1 round of investment. The new round of financing of Qingzhou Zhihang will reach at least 25 million US dollars, and ByteDance participated in this round of investment. Qingzhou Zhihang said that this round of financing will be used to continue to build an “automated production super factory” for autonomous driving.

New car-making forces special

1. Nezha Zhang Yong: Do not engage in an arms race / invest tens of billions into the Thousand Talents Project

On June 10, Zhang Yong, the co-founder and CEO of Nezha Automobile, pointed out at the 13th China Automobile Blue Book Forum that Nezha Automobile will not engage in an arms race, and plans to invest 1,000 people and 10 billion dollars. With the development of smart technology.

Zhang Yong said that the evolution of electric vehicles to smart electric vehicles is already a consensus in the industry, and it is also a track that Nezha must compete for. Nezha’s intelligent driving will adopt a gradual development route, from L2+ to L4. Therefore, for Nezha, there will be no arms race, and Nezha must develop an intelligent technology development path that suits the needs of users. In the development of intelligent technology, the plan is to invest a team of 1,000 people and invest 10 billion in this battle. Zhang Yong hopes that Nezha can occupy a favorable position on this track in three to five years.

2. Weilai’s 50th second-generation power station was completed

On June 12, Weilai Power Station | Weiji Science and Technology Park in Wuzhong District, Suzhou was officially completed and put into operation. This is the 50th second-generation power station. Up to now, a total of 255 swap stations have been completed nationwide.

On April 15, the world’s first Weilai second-generation power station “Beijing Sinopec Chaoying Station” was officially completed. A total of 6 NIO second-generation power stations were completed in April, 24 were completed in May, and 20 were completed as of June 12. NIO will continue to rapidly promote the construction of the second-generation power station, and strive to achieve the goal of building 500 power stations in 2021 as soon as possible.

3. AIWAYS enters the Italian market and has achieved full coverage in key European regions

It is learned from AIWAYS that AIWAYS has reached a cooperation with the car importer Koelliker Group to jointly develop the Italian market and plans to launch U5 in Italy this year. This means that following the launch of sales in France, Germany, the Netherlands, Belgium, Denmark and other countries, AIWAYS’ global business scope has further expanded to Southern Europe and EFTA (European Free Trade Association) national markets, achieving full coverage of key European regions.

4.7 Lando FREE will be delivered at the end of the month and will be listed on June 19

According to official information from Lantu Automobile, its medium and large SUV Lantu FREE will be officially launched on June 19. According to previous news, the new car will officially begin delivery on July 29. Prior to this, Lantu FREE has officially opened pre-sales. The pre-sale prices of the extended range and pure electric models are 313,600 yuan and 333,600 yuan respectively, and the prices after adding the exclusive package are 333,600 yuan and 363,600 yuan, And provide the first special edition models.

I’m here this week. See you next week.

In this regard, Didi released a relevant statement tonight. Didi restored what happened: On April 13, the Shenzhen Express driver, Master Zhang, grabbed the passenger’s express order booked through an enterprise-level account. The scheduled departure time was 8 am on the 14th. On the 14th, Master Zhang departed from home to pick up the passengers. The driving distance was 36.5 kilometers. He arrived at the passenger’s departure point at 7:39 am and waited for the passengers from 38 minutes to 8:17. The passenger cancelled the order because he was dissatisfied that the driver did not take the initiative to help carry the luggage. While waiting for passengers, Master Zhang sent multiple messages to passengers through the Didi App.8 calls made , One time at 7:55, the passenger asked the driver to drive into the hotel, one time at 7:58, the driver and the passenger negotiated to change the pick-up time to 8:10, and the other 6 calls were missed by the passengers. According to the rules of the platform, the cancellation fee of this order is 21 yuan after the passenger is late and the passenger has to pay the cancellation fee immediately and give the full amount to the driver. Regarding carrying luggage for passengers, although the platform rules do not have uniform mandatory requirements for express drivers, we hope to provide passengers with better services. We hope that the masters will take the initiative when encountering large luggage, and we recommend that passengers take the initiative when they need help Ask the driver for help. In actual situations, many driver masters do take the initiative to help when they see passengers carrying suitcases. In addition, Master Zhang mentioned that after arriving at the pick-up location, he had “argued with the security three times” while waiting for the passengers. We put ourselves here and thought about this issue from the perspective of Master Zhang. It may be that Master Zhang stayed near the hotel entrance for a long time while waiting for passengers, which affected the work of security. Here we also apologize on behalf of Master Zhang. We also call on the drivers and masters to abide by the traffic rules and not to park randomly. At the same time, we appeal to the whole society that sometimes the driver masters may temporarily occupy parking lot or roadside resources while waiting for passengers. Please give us some tolerance and convenience. We have contacted Master Zhang, and considering that Master Zhang has a long empty distance, we will provide Master Zhang with relevant subsidies. At the same time, I also talked with Master Zhang. Although we understand that Master Zhang is very wronged and angry, we did not provide good car service to passengers this time. In addition, the appointment order is not dispatched, and the driver voluntarily grabs the order. Therefore, the driver has a long distance to pick up and drive, and the passengers do not know it beforehand. At present, this incident has received widespread attention from all walks of life, and it has also caused some trouble to passengers. At present, the platform has received complaints from the driver from the passenger entering the customer service line, saying that he was insulted by the driver and asking the platform to punish the driver. We have informed and warned Master Zhang not to insult passengers or disseminate users’ personal information without authorization. According to the platform rules, Later, Master Zhang will be given corresponding education and punishment. Didi emphasized that when going out, safety is the first priority and kindness is the most important thing. We call on everyone to respect each other, tolerate each other, and be convenient for others. We will also continue to work hard to prevent any side of the driver from being wronged, and continue to improve the fairness and reasonableness of the platform rules. You are also welcome to provide feedback and suggestions.

Xu Dan

2021-04-16 12:32:10

Source: Times Finance

After Tucson is listed in the future, the commercial vehicle autonomous driving market in which it is located may also enter the eve of large-scale landing. Image source: Tuworm Creative At a time when passenger car autonomous driving is not yet mature, the field of truck autonomous driving has given birth to “the world’s first autonomous driving stock”. On April 15th, Eastern Time, the self-driving truck brand “Tucson Future” officially landed on Nasdaq. The opening rose by more than 3%, and the opening price was US$40.25, slightly higher than the IPO price (US$40), but it began to fall after rising to US$41.5, and closed at US$40 on the day, which was flat compared to the IPO issue price. It is foreseeable that after Tucson is listed in the future, the autonomous driving track will be sought after by more capital, and the commercial vehicle autonomous driving market in which it is located may also enter the eve of large-scale landing. In response to more issues related to future business planning after the listing, Times Finance tried to contact Tucson Future, but as of press time, no response has been received. Is the “first share of autonomous driving” worth US$8.787 billion? The autonomous driving track is divided into the passenger car market and the commercial vehicle market. The former, such as Baidu, Didi, etc., directly face C-end consumers, with Robotaxi as the final commercial landing scene; The specific business scenario is unmanned autonomous driving. Tucson Future was established in 2015. In the future, it will mainly provide customers with computer vision-based commercial L4 autonomous driving solutions, high-speed scenes and unmanned transportation solutions for container trucks in the port. Headquartered in Shanghai, with branches in the United States and Beijing, the main market is currently in the United States. Tucson’s future business model has been relatively clear. In July 2020, it launched its own driverless freight network “AFN”. The ecosystem consists of fully automated semi trucks, high-definition digital map routes, strategically placed terminals, and a cloud-based proprietary autonomous operation supervision system TuSimple Connect. composition. Based on this network, Tucson’s future service models mainly include three types:

Cooperate with the shipper. In the future, Tucson will use its own unmanned vehicle fleet operating in an unmanned network to provide shippers with unmanned freight services calculated by mileage.

Cooperate with the carrier. Carriers can purchase driverless trucks, operate them in the driverless freight network, and connect to Tucson’s future driverless systems when necessary.

Fleet. Fleet owners can buy and operate their own fleet of driverless trucks. These unmanned trucks will operate in the unmanned freight network according to the mileage-calculated charging mode.

Since its establishment, Tucson has gone through 10 rounds of financing in the future, and the disclosed amount of E-round financing is 350 million yuan. In addition to the founding team, Tucson’s future largest shareholder is Sina affiliate Sun Dream Inc., which accounts for 20% of Class A shares.

As the first stock of autonomous driving, what is the market value of 8.49 billion U.S. dollars? “From the perspective of Tucson’s current financial indicators such as revenue and profit, as well as its commercialization capabilities, the market value of US$8.49 billion is relatively high. However, Tucson’s future track will have high growth, and market competitors will be relatively If there is less, there is more room for imagination in the future.” Major General Ding, an IT Internet observer, told Times Finance and Economics.

The capital market has always valued autonomous driving very high. Both Baidu Autopilot and Waymo are currently valued at around US$40 billion. However, the market for autonomous driving passenger cars is very large, and the non-commercial vehicle market can match them.

Compared with its peers, Pony Zhixing, which is also on the truck autonomous driving track, is valued at more than US$5.3 billion after the latest round of financing, and Zhijia Technology is valued at US$1 billion. Tucson’s current market value can be regarded as the leader in the future. .

From the point of view of the track, Tucson’s future potential is indeed relatively large. According to an Essence Securities report, the traditional freight truck market in the United States is as high as 800 billion U.S. dollars, with high labor costs, accounting for 43% of operating costs per mile, and the problem of aging drivers is serious. 54% of commercial truck drivers are 45 years of age or older. There is a strong demand for autonomous driving technology.

However, in terms of specific operating conditions, US$8.49 billion may be more “paying for the future.” From the perspective of revenue, Tucson will always be at a loss from 2018 to 2020, with net losses of US$45.03 million, US$84.883 million, 177 million US dollars, a total of about 2 billion yuan. And Tucson said in the future that “a lot of expenses and continuous losses will be incurred in the foreseeable future.

From the perspective of commercialization capabilities, Tucson has not yet achieved mass production in the future. The prospectus discloses that it will cooperate with Navista and Volkswagen’s Traton for pre-installation and mass production to jointly build and deliver L4 unmanned trucks. At present, the vehicle has received 5,700 pre-orders and will be put into production in 2024 as planned .

Before mass production, the level of hardware reliability is not enough, so Tucson’s future half-car test vehicle still needs to be equipped with safety officers and drivers before it can go on the road.

Who is the second “Tucson Future”?

“Like the United States, it is difficult for the passenger car market to give birth to the next Tucson in a short period of time. The commercial sector is still the direction that domestic auto-driving related companies should pay attention to and make efforts.” Major General Ding said.

The passenger car autonomous driving market is vast. Most of the players entering the game are Internet companies with strong capital. Although there have been preliminary results, companies such as Baidu and Didi have already begun road tests, but they are still far from commercialization. The process is difficult.

From the perspective of the technical route alone, the domestic car-road coordinated route is still in the early stage of equipment laying, and it is far from reaching the level of mutual perception between cars and roads and other vehicles. Moreover, the current domestic laws on autonomous vehicles are basically in a blank state.

Foreign “smart bicycles” models are also full of difficulties. Earlier this month, the CEO of waymo, a leading autonomous driving company, resigned. According to foreign media reports, internal employees said Waymo did not have much direction inside, technology stagnated, and senior leaders set goals. unrealistic.

In contrast, self-driving commercial vehicles do not carry people, involve fewer safety issues, and the road conditions are relatively simple and fixed, and are easier to commercialize. The current domestic commercial vehicle autonomous driving fields are mainly truck freight and mines.

In the field of truck freight, Zhijia Technology and Xiaoma Zhixing have respectively completed D round financing and C+ round financing, and become unicorn companies. Among them, Zhijia Technology has introduced Guotai Junan International and Hedosophia as investors, both of which can provide Its listing assists, and according to media reports, it is in the process of SPAC merger negotiation in order to go public through backdoor. However, like Tucson’s future, both have not yet achieved mass production.

However, compared with the American truck freight market, the domestic truck freight market is not mature yet. Chen Mo, the founder of Tucson Future, once publicly mentioned the reasons for prioritizing the development of the American market.

First of all, there are only test licenses in China, and operations are not allowed. If trucks do not have an operating license, they cannot transport goods and cannot be profitable; in the United States, the cost of freight hardware is declining, and labor costs are rising, but the country has not yet reached the intersection; unmanned driving needs to be combined with drop-and-hook and box-drop transportation. Mode (after arriving at the transportation point, the tractor can drop the carriage and hang another carriage, which can shorten the stop time to a minimum), but many domestic trucks and trailers are integrated, and the drop-hang and drop-box rate not enough.

There is also great potential for autonomous driving in mines, with huge market space and high risk, difficulty in recruiting drivers, and strong demand for unmanned operations. According to Chentao Capital’s calculations, the total annual market size of domestic mine autonomous driving exceeds 100 billion.

Domestic mining autonomous driving solution providers are dominated by start-up companies, because mining operations are complex systems engineering, which not only require autonomous driving technology, but also dispatch and fleet management, and Internet of Vehicles communication technologies. Therefore, domestic large-scale equipment companies tend to cooperate in-depth with driverless start-up companies.

Tage Zhixing, a leading company in this field, was established in 2016 and has now completed 8 rounds of financing. Its founder and chief scientist Yu Guizhen stated that it is confident that it will be listed on the Science and Technology Innovation Board within 1-2 years.

However, according to Chentao Capital’s analysis, mining autonomous driving companies are still in the initial stage of commercial trial operation and field deployment testing. The work efficiency of autonomous driving has not yet been equal to that of manual driving, especially night operations have not yet carried out normal operations. Although many companies have received commercial orders, most of them are pilot projects and have not yet participated in the normal production operations of the mine.

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Produced | Sohu Technology

Edit | Yin Lina

According to news on April 15, recently, “Shenzhen online car-hailing drivers were cancelled after waiting half an hour to pick up passengers.” The incident caused heated discussions among netizens. It is understood that the driver of Didi drove 36.5 kilometers to the position of the female passenger and waited for the passenger at the designated place for about half an hour, but the passenger cancelled the order because he was dissatisfied that the driver did not take the initiative to help put the luggage.

In this regard, Didi released a relevant statement tonight:

On April 13, the Shenzhen Express driver Master Zhang grabbed the passenger’s express order booked by the enterprise-level account. The scheduled departure time was 8 am on the 14th. On the 14th, Master Zhang set off from home to pick up the passengers. The driving distance was 36.5 kilometers. He arrived at the passenger departure point at 7:39 am and waited for the passengers from 38 minutes to 8:17. The passenger cancelled the order because he was dissatisfied that the driver did not take the initiative to help carry the luggage.

While waiting for the passengers, Master Zhang sent multiple messages to the passengers through the Didi App. 8 calls were made, one of which was connected at 7:55. The passenger asked the driver to drive into the hotel, and the call was connected once at 7:58. The driver and the passenger negotiated to change the pick-up time to 8:10, and the other 6 calls The passenger did not answer the phone.

According to platform rules, the cancellation fee of this order is 21 yuan after the passenger is late and the passenger has to pay the cancellation fee immediately and give the full amount to the driver. Regarding the handling of luggage for passengers, although the platform rules do not have uniform mandatory requirements for express drivers, we hope to provide passengers with better services. We hope that the masters will take the initiative when encountering large luggage, and we recommend that passengers take the initiative when they need help. Ask the driver for help. In actual situations, many driver masters do take the initiative to help when they see passengers carrying suitcases.

In addition, Master Zhang mentioned that after arriving at the pick-up location, he had “argued with the security three times” while waiting for the passengers. We put ourselves here and thought about this issue from the perspective of Master Zhang. It may be that Master Zhang stayed near the hotel entrance for a long time while waiting for passengers, which affected the work of security. Here we also apologize on behalf of Master Zhang.

We also call on the drivers and masters to abide by the traffic rules and not to park randomly. At the same time, we appeal to the whole society that sometimes the driver masters may temporarily occupy parking lot or roadside resources while waiting for passengers. Please be tolerant and convenient.

We have contacted Master Zhang, and considering that Master Zhang has a long empty distance, we will provide Master Zhang with relevant subsidies. At the same time, I also talked with Master Zhang. Although we understand that Master Zhang is very wronged and angry, we did not provide good car service to passengers this time.

In addition, the appointment order is not dispatched, and the driver voluntarily grabs the order. Therefore, the driver has a long distance to pick up and drive, and the passengers do not know in advance. At present, this incident has received widespread attention from all walks of life, and it has also caused some trouble to passengers.

At present, the platform has received complaints from the driver from the passenger entering the customer service line, saying that he was insulted by the driver and asking the platform to punish the driver. We have informed and warned Master Zhang not to insult passengers or disseminate users’ personal information without authorization. According to the rules of the platform, Master Zhang will be given corresponding education and punishment in the follow-up.

Produced | Sohu Technology

Edit | Yin Lina

According to news on April 15, recently, “Shenzhen online car-hailing drivers were cancelled after waiting half an hour to pick up passengers.” The incident caused heated discussions among netizens. It is understood that the driver of Didi drove 36.5 kilometers to the position of the female passenger and waited for the passenger at the designated place for about half an hour, but the passenger cancelled the order because he was dissatisfied that the driver did not take the initiative to help put the luggage.

In this regard, Didi released a relevant statement tonight:

On April 13, the Shenzhen Express driver Master Zhang grabbed the passenger’s express order booked by the enterprise-level account. The scheduled departure time was 8 am on the 14th. On the 14th, Master Zhang set off from home to pick up the passengers. The driving distance was 36.5 kilometers. He arrived at the passenger departure point at 7:39 am and waited for the passengers from 38 minutes to 8:17. The passenger cancelled the order because he was dissatisfied that the driver did not take the initiative to help carry the luggage.

While waiting for the passengers, Master Zhang sent multiple messages to the passengers through the Didi App. 8 calls were made, one of which was connected at 7:55. The passenger asked the driver to drive into the hotel, and the call was connected once at 7:58. The driver and the passenger negotiated to change the pick-up time to 8:10, and the other 6 calls The passenger did not answer the phone.

According to platform rules, the cancellation fee of this order is 21 yuan after the passenger is late and the passenger has to pay the cancellation fee immediately and give the full amount to the driver. Regarding the handling of luggage for passengers, although the platform rules do not have uniform mandatory requirements for express drivers, we hope to provide passengers with better services. We hope that the masters will take the initiative when encountering large luggage, and we recommend that passengers take the initiative when they need help. Ask the driver for help. In actual situations, many driver masters do take the initiative to help when they see passengers carrying suitcases.

In addition, Master Zhang mentioned that after arriving at the pick-up location, he had “argued with the security three times” while waiting for the passengers. We put ourselves here and thought about this issue from the perspective of Master Zhang. It may be that Master Zhang stayed near the hotel entrance for a long time while waiting for passengers, which affected the work of security. Here we also apologize on behalf of Master Zhang.

We also call on the drivers and masters to abide by the traffic rules and not to park randomly. At the same time, we appeal to the whole society that sometimes the driver masters may temporarily occupy parking lot or roadside resources while waiting for passengers. Please be tolerant and convenient.

We have contacted Master Zhang, and considering that Master Zhang has a long empty distance, we will provide Master Zhang with relevant subsidies. At the same time, I also talked with Master Zhang. Although we understand that Master Zhang is very wronged and angry, we did not provide good car service to passengers this time.

In addition, the appointment order is not dispatched, and the driver voluntarily grabs the order. Therefore, the driver has a long distance to pick up and drive, and the passengers do not know in advance. At present, this incident has received widespread attention from all walks of life, and it has also caused some trouble to passengers.

At present, the platform has received complaints from the driver from the passenger entering the customer service line, saying that he was insulted by the driver and asking the platform to punish the driver. We have informed and warned Master Zhang not to insult passengers or disseminate users’ personal information without authorization. According to the rules of the platform, Master Zhang will be given corresponding education and punishment in the follow-up.

Produced | Sohu Technology

Edit | Yin Lina

According to news on April 15, recently, “Shenzhen online car-hailing drivers were cancelled after waiting half an hour to pick up passengers.” The incident caused heated discussions among netizens. It is understood that the driver of Didi drove 36.5 kilometers to the position of the female passenger and waited for the passenger at the designated place for about half an hour, but the passenger cancelled the order because he was dissatisfied that the driver did not take the initiative to help put the luggage.

In this regard, Didi released a relevant statement tonight:

On April 13, the Shenzhen Express driver Master Zhang grabbed the passenger’s express order booked by the enterprise-level account. The scheduled departure time was 8 am on the 14th. On the 14th, Master Zhang departed from home to pick up the passengers. The driving distance was 36.5 kilometers. He arrived at the passenger’s departure point at 7:39 am and waited for the passengers from 38 minutes to 8:17. The passenger cancelled the order because he was dissatisfied that the driver did not take the initiative to help carry the luggage.

While waiting for the passengers, Master Zhang sent multiple messages to the passengers through the Didi App. 8 calls were made, one of which was connected at 7:55. The passenger asked the driver to drive into the hotel, and the call was connected once at 7:58. The driver and the passenger negotiated to change the pick-up time to 8:10, and the other 6 calls The passenger did not answer the phone.

According to platform rules, passengers who are late for this order will be charged a cancellation fee of 21 yuan to cancel the order. After cancellation, the passenger has paid immediately and paid the full amount to the driver. Regarding the handling of luggage for passengers, although the platform rules do not have uniform mandatory requirements for express drivers, we hope to provide passengers with better services. We hope that the masters will take the initiative when encountering large luggage, and we recommend that passengers take the initiative when they need help. Ask the driver for help. In actual situations, many driver masters do take the initiative to help when they see passengers carrying suitcases.

In addition, Master Zhang mentioned that after arriving at the pick-up location, he had “argued with the security three times” while waiting for the passengers. We put ourselves here and thought about this issue from the perspective of Master Zhang. It may be that Master Zhang stayed near the hotel entrance for a long time while waiting for passengers, which affected the work of security. Here we also apologize on behalf of Master Zhang.

We also call on the drivers and masters to abide by the traffic rules and not to park randomly. At the same time, we appeal to the whole society that sometimes the driver masters may temporarily occupy parking lot or roadside resources while waiting for passengers. Please be tolerant and convenient.

We have contacted Master Zhang, and considering that Master Zhang has a long empty distance, we will provide Master Zhang with relevant subsidies. At the same time, I also talked with Master Zhang. Although we understand that Master Zhang is very wronged and angry, we did not provide good car service to passengers this time.

In addition, the appointment order is not dispatched, and the driver voluntarily grabs the order. Therefore, the driver has a long distance to pick up and drive, and the passengers do not know it beforehand. At present, this incident has received widespread attention from all walks of life, and it has also caused some trouble to passengers.

At present, the platform has received complaints from the driver from the passenger entering the customer service line, saying that he was insulted by the driver and asking the platform to punish the driver. We have informed and warned Master Zhang not to insult passengers or disseminate users’ personal information without authorization. According to the rules of the platform, Master Zhang will be given corresponding education and punishment in the follow-up.

Produced | Sohu Technology

Edit | Yin Lina

According to news on April 15, recently, “Shenzhen online car-hailing drivers were cancelled after waiting half an hour to pick up passengers.” The incident caused heated discussions among netizens. It is understood that the driver of Didi drove 36.5 kilometers to the position of the female passenger and waited for the passenger at the designated place for about half an hour, but the passenger cancelled the order because he was dissatisfied that the driver did not take the initiative to help put the luggage.

In this regard, Didi released a relevant statement tonight:

On April 13, the Shenzhen Express driver Master Zhang grabbed the passenger’s express order booked by the enterprise-level account. The scheduled departure time was 8 am on the 14th. On the 14th, Master Zhang departed from home to pick up the passengers. The driving distance was 36.5 kilometers. He arrived at the passenger’s departure point at 7:39 am and waited for the passengers from 38 minutes to 8:17. The passenger cancelled the order because he was dissatisfied that the driver did not take the initiative to help carry the luggage.

While waiting for the passengers, Master Zhang sent multiple messages to the passengers through the Didi App. 8 calls were made, one of which was connected at 7:55. The passenger asked the driver to drive into the hotel, and the call was connected once at 7:58. The driver and the passenger negotiated to change the pick-up time to 8:10, and the other 6 calls The passenger did not answer the phone.

According to platform rules, passengers who are late for this order will be charged a cancellation fee of 21 yuan to cancel the order. After cancellation, the passenger has paid immediately and paid the full amount to the driver. Regarding the handling of luggage for passengers, although the platform rules do not have uniform mandatory requirements for express drivers, we hope to provide passengers with better services. We hope that the masters will take the initiative when encountering large luggage, and we recommend that passengers take the initiative when they need help. Ask the driver for help. In actual situations, many driver masters do take the initiative to help when they see passengers carrying suitcases.

In addition, Master Zhang mentioned that after arriving at the pick-up location, he had “argued with the security three times” while waiting for the passengers. We put ourselves here and thought about this issue from the perspective of Master Zhang. It may be that Master Zhang stayed near the hotel entrance for a long time while waiting for passengers, which affected the work of security. Here we also apologize on behalf of Master Zhang.

We also call on the drivers and masters to abide by the traffic rules and not to park randomly. At the same time, we appeal to the whole society that sometimes the driver masters may temporarily occupy parking lot or roadside resources while waiting for passengers. Please be tolerant and convenient.

We have contacted Master Zhang, and considering that Master Zhang has a long empty distance, we will provide Master Zhang with relevant subsidies. At the same time, I also talked with Master Zhang. Although we understand that Master Zhang is very wronged and angry, we did not provide good car service to passengers this time.

In addition, the appointment order is not dispatched, and the driver voluntarily grabs the order. Therefore, the driver has a long distance to pick up and drive, and the passengers do not know it beforehand. At present, this incident has received widespread attention from all walks of life, and it has also caused some trouble to passengers.

At present, the platform has received complaints from the driver from the passenger entering the customer service line, saying that he was insulted by the driver and asking the platform to punish the driver. We have informed and warned Master Zhang not to insult passengers or disseminate users’ personal information without authorization. According to the rules of the platform, Master Zhang will be given corresponding education and punishment in the follow-up.