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Briefing: “Hello TransTech” is the newest player in China’s ride hailing industry
哈啰出行回应上线打车业务：正与合作伙伴试点 – Tencent
What happened: Hello TransTech (Hello Chuxing in Chinese), formerly known as Hello Bike, has started piloting taxi-hailing service in China working with partners in Shanghai, Nanjing, and Chengdu. The company did not reveal when and where it will officially launch the new taxi-hailing service.
Why it’s important: Chinese bike sharing company, HelloBike, rebranded itself as “Hello TransTech” in September in a bid to expand its operations to other mobility services. The Ant Financial-backed company is not the only one trying to take a piece of China’s lucrative ride-hailing market. Earlier this year, Chinese on-demand food delivery service operator Meituan Dianping started piloting ride-hailing service in Shanghai and Nanjing but announced last month that it would suspend its expansion into ride-hailing amid passenger safety crisis at Didi Chuxing.