Didi, a Chinese ride-hailing giant which recently resumed the registration of new users, launched an incentive program for drivers operating within Beijing’s Fifth Ring Road. Specifically, drivers need to receive 12 orders within the Fifth Ring Road where the majority of their customers ride before 23:00 in the evening, and they can receive a reward of 130 yuan ($18.7).
Jiemian News quoted one driver as saying that when he started receiving orders at 6:00 in the morning, he received a notification on the driver’s app. After clicking to accept this task, the navigation will guide him into the Fifth Ring Road, where orders are heaviest in the morning. He pointed out that the starting point of these 12 orders must be within the Fifth Ring Road, but the ending point can be outside the road.
“It’s easy. We can receive more than 20 orders a day.” The driver said, “I’ve managed to earn the reward two days in a row.”
In addition to the latest mechanism, Didi has never stopped encouraging drivers. For example, after buying a “acceleration card” at 7.9 yuan, the driver will get a 20% increase in order revenue in the next three hours.
Behind this subsidy is that Didi recently completed rectification and resumed new user registration, and there is also a shortage of drivers in the Beijing area.
Since Didi underwent a regulatory review, the online ride-hailing market has revived. According to the Ministry of Transport, as of the end of 2022, there were 298 online ride-hailing platforms in China, which was 57 more than when the Didi app was removed from stores in July 2021. According to Analysys’ data, Didi’s market share has dropped from about 90% at its peak to 70%-80%.
Venture capital institutions also began to re-examine the market. In September 2021, Caocao Mobility announced the completion of a round B financing of 3.8 billion yuan, setting the largest single financing record in the ride-hailing field since 2020. However, this record was quickly broken by T3 Travel. In October of the same year, T3 Travel received 7.7 billion yuan in round A financing.