The truce between Didi Chuxing and Uber China seemingly left the Chinese ride-hailing titan the sole dominator in China’s highly lucrative market. However, it has opened up new opportunities for other surviving local ride-hailing companies. It would seem that there’s no way for a single company to gobble up the entire Chinese market as a whole, even if it’s Didi.

UCAR, a prominent rival of Didi in China, announced this week that it raised RMB 4.6 billion in new funds from four investors including China’s interbank network, UnionPay. The company already boasts investment from high-profile players, including Warburg Pincus and Jack Ma.

Different from Didi that relies on private cars and crowd-sourced drivers, UCAR offers its services with an in-house fleet and licensed drivers. These drivers offer UCAR a way to potentially increase margins and avoid government questions about their legal status.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.