ecns [expanded by feedex.net]
ecns
Didi rejects Uber's $4b grant claim
http://www.ecns.cn/business/2016/01-13/195649.shtml
Jan 13th 2016, 16:17
Travis Kalanick, the boss of ride-sharing app Uber says its biggest Chinese rival Didi is spending 4 billion U.S. dollars a year on subsidies.
The action intensifies a war of words between the two competitors.
A Didi spokesperson says Uber is being wildly creative with the numbers.
Uber and Didi raised billions from investors in 2015 as they attempt to secure their positions in the competitive market.
According to a report by Beijing-based Analysys International, in the third quarter of 2015, Didi Kuaidi commanded over 80 percent market share of active users in China, compared with Uber's 16 percent.
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