Didi Chuxing

Chinese ride-hailing giant Didi is looking to enter the Russian market, according to the CEO of the country's sovereign wealth fund which is one of the investors in the firm.

The Russian Direct Investment Fund (RDIF) is an investor in Didi. RDIF's CEO Kirill Dmitriev told CNBC on Wednesday that Didi is now looking to enter Russia.

"Didi is thinking about entering the Russian market and we are looking at the Russian market with them," Dmitriev said.

Didi was not immediately available for comment when contacted by CNBC.

The company has been on an international expansion drive over the past couple of years and operates in Japan, Australia and Latin America.

An entry into the Russian market would pit Didi against Yandex Taxi, a joint venture between Russian internet giant Yandex and Uber.

Original Article


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