Daily Management Review

Didi, China's Ride-Hailing Service, Has Changed Its Mind And Will Remain In Russia


Didi, China's Ride-Hailing Service, Has Changed Its Mind And Will Remain In Russia
Didi Global, the Chinese ride-hailing company, stated on Saturday that it will continue to function in Russia, overturning a statement announced on Monday that it would leave the market as well as Kazakhstan.
There was no explanation offered by Didi in its latest statement and no additional comments were available from the company,   
Didi said on Monday that it will leave Russia on March 4, almost a year and a half after commencing services there. It has been there for approximately a year.
"Unfortunately, due to changing market conditions and other challenges, it has become clear at the moment we will not be able to provide the best results in Russia and Kazakhstan," the Chinese firm had said on Monday.
Neither of the statements of the company acknowledged the current geopolitical concerns being a driver of the decision taken by the company, but several online critics argued that the timing of the decision opened Didi up to charges of caving in to pressure from the United States on Russia, which had invaded its neighbouring country Ukraine on Thursday.
The statement of the company issued on Saturday made no mention of Kazakhstan.
The Chinese government has called for talks on Ukraine, but has neither condemned Russia's action or labelled it an invasion.
Didi has had a rough time since going public in New York last summer. Under pressure from Chinese officials worried about data security, Didi said in December that it will delist from the NYSE and seek a listing in Hong Kong.