Didi Chuxing bets opposite Uber in Brazil

Ride-hailing wars make for bizarre bedfellows.

In a pierce that renews a adversary with Uber, China’s Didi Chuxing announced a “strategic investment” in Brazilian startup 99 on Thursday. Didi is lead financier in a appropriation turn value over $100 million.

The pierce pits aged foes Didi and Uber opposite any other in Brazil, a marketplace that a U.S. app association has targeted for expansion.

It’s also a latest in a prolonged line of investments that have combined a tangled web of alliances in a float hailing industry. Uber and Didi fought any other for years in China before Uber sold a business in a nation to Didi in 2016.

Uber became Didi’s largest shareholder as partial of a deal. Didi took a minority interest in Uber, too.

Related: After exiting China, Uber shifts concentration to Latin America

Now a companies seem to be renewing their conflict in Brazil. In a press recover announcing a investment, a CEO of 99 praised Didi and seemed to take a appropriate during tellurian courtesy personality Uber.

“99 is impossibly vehement to partner with Didi, a world’s largest and best ride-sharing platform,” Peter Fernandez said.

Related: ‘It’s complicated’ for ride-hailing giants

After retreating in China, Uber shifted a courtesy and resources to Latin America. The association has been handling in Brazil given 2014 and Sao Paulo is Uber’s second-busiest city in a universe after Mexico City.

The investment in 99 is Didi’s initial vital incursion in Latin America.

The Latin America triangle is only a latest bauble in Uber and Didi’s difficult relationship. Before Didi bought Uber’s Chinese operations, it struck adult a vital partnership with Lyft — Uber’s categorical aspirant in a U.S.

Article source: http://rss.cnn.com/~r/rss/edition_business/~3/9ILFmHNF29s/index.html