Didi Chuxing launched Wednesday a host of financial services, including auto finance and wealth management products, to create new revenue streams.
The company began testing services in early 2018, testing in 10 Chinese cities, including Chongqing and Zhengzhou, before launching them this week across the country.
It aims to "provide innovative and reliable personal financial products in the era of the new economy and flexible employment," Didi said in a statement.
The move opposes Didi to more established players such as Ant Financial, a subsidiary of Chinese technology giant Alibaba (Baba
), at a time when his main activity is facing pressure from the public and the government.
Core business under pressure
The murders of two female passengers Didi last year aroused public outrage
, prompting society to forced Uber to leave China
suspend many of its services and add several new security features. the
prompted further examination of the Chinese industry by the Chinese authorities.
Ofo, the bicycle sharing company on which Didi has invested tens of millions of dollars, is also in trouble
Didi, who is supported by SoftBank (SFTBF
) and Apple (AAPL
), hopes that new products such as its health insurance offer, designed to "lower the barrier to entry for workers in the market economy", will help to get it back on track.
"Financial services should help Didi build a stronger network of collaboration and shared interests, as well as a narrower and more efficient transportation ecosystem," the company said.
Didi is not the only company known for his efforts beyond his core business. Grab, which bought Uber's business in Southeast Asia last year, is expanding its business to digital payments and healthcare.
The Singapore-based company wants to be "a platform of daily life", President Grab Ming Maa told CNN Business