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Asia Uber/Lyft

China’s Didi Misses December Ride Target, Declares ‘War of the Century’

Didi Chuxing missed its target for the number of daily rides taken in December, according to internal data seen by The Information, sparking concerns about growth for the world’s biggest ride-hailing company.

The shortfall—which could reflect new local government rules on ride-hailing and competition from bike-rental services—prompted an executive to dress down staff at a recent management meeting. If Didi were a publicly listed company, shareholders would immediately respond to missed targets and managers could get fired, the executive said, according to a person with knowledge of the meeting. The shortfall particularly worried executives because December is a peak month for Didi and is seen internally as a benchmark for company performance.

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