Chinese ride-hailing giant Didi Chuxing (Didi) has launched Huaxiaozhu, a new economy ride-sharing service targeting younger users.
Incubated internally by an independent unit, Huaxiaozhu leverages DiDi’s existing driver pool and operates by the same set of safety and compliance standards. The service has been in a pilot operation in selected cities of provinces such as Guizhou and Shandong, the company said in a press release.
The move comes as the company takes on multiple growth initiatives during China’s post COVID-19 recovery, including the DiDi Delivery service which now operates in 21 cities, an on-demand logistics service that is landing in 30 places, and a rebranding of its Express Pool service.
DiDi on Monday just announced its rebranded carpooling service “Qingcai Pinche”, remaining under its ride-hailing business Didi Express.
SEE ALSO: DiDi Said to Be Seeking HK$600B IPO
Chinese business news outlet Caixin reported on Tuesday that the eight-year-old company is making preparations to be listed in Hong Kong by the end of this year, citing a source close to top executives of the company. The company is seeking more than HK$600 billion ($80 billion). If it proceeds, the IPO is expected to be one of the largest public listings in Hong Kong in recent years.
However, Didi Chuxing said on Wednesday that the IPO plan was not the company’s top priority, and they don’t plan to do it at the moment.