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Apple Partner Didi Chuxing Tells CNBC that 11 Million Rides a Day in China is only 1% of the Potential

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Last Friday we reported on Apple investing $1 billion in China's largest Ride-Hailing service Didi Chuxing. Three days later, Didi Chuxing's President Jean Liu was part of a presentation at a Beijing Apple Developer Event. That Apple-Didi deal happened like lighting. Jean Liu told CNBC today that "Securing $1 billion in investment from Apple was like "speed dating."  


"This [partnership] is still in a very preliminary stage. We got to know the Apple team, they got to know us not too long ago, but we clicked very quickly," laughed Jean Liu.


Jean Liu stated that the 11 million rides a day is only 1% penetration in this market, so the potential is huge going forward. The ride-sharing market in Beijing is already 4 to 5 times larger than it is in New York. If Apple is able to work with Didi to have Apple Pay as a ride paying option, the potential is mind boggling in terms of transactions per day. 


Regarding overseas expansion, Liu didn't discuss any new plans but said she was satisfied with Didi's partnerships with Uber rival Lyft in the U.S., GrabTaxi in Southeast Asia and Ola in India.


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