Crackdown on Tech Firms:Didi Suspends UK Launch Plans Amid China Says Report

-

Chinese ride-hailing giant Didi Global has suspended its plans to launch in Britain and continental Europe, The Telegraph reported on Monday, against the backdrop of a regulatory backlash at home over data privacy.

Staff working on the planned launches have been told that they face possible redundancy and Didi has stopped hiring in Britain, pulling the launch plans for at least a year, according to the report.

“We continue to explore additional new markets, liaising with relevant stakeholders in each and being thoughtful about when to introduce our services,” a Didi spokesperson said, without mentioning the UK launch plans.

“As soon as we have any more news on additional new markets, we look forward to sharing.”

Chinese companies have been caught in a pincer with increasing US scrutiny on one side and a domestic regulatory crackdown on the country’s massive internet sector.

The move has rattled tech giants in the country and Didi is under a cybersecurity review, as China revamps its policy towards privacy and data security to ensure secure storage of user data.

Didi which listed its shares in New York in June after raising $4.4 billion (roughly Rs. 32,610 crores) in an initial public offering, is looking to expand its international business with recent launches in South Africa, Ecuador, and Kazakhstan.

0 0 votes
Article Rating
Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments

Latest news

LG Ultra PC 14-Inch, 16-Inch Laptops With AMD Ryzen 5000 Series Processors Launched

The laptops of the LG Ultra PC series include anti-glare IPS panels with minimal bezels. Last week, LG introduced 14-inch...

Samsung Galaxy A23 5G With 6.6-Inch Infinity-V Display, 5,000mAh Battery Launched

Table of ContentsSamsung Galaxy A23 5G price, availability (expected)Samsung Galaxy A23 5G specifications Samsung has not yet revealed the Galaxy...

LG Ultra Tab With 10.35-Inch Display, Snapdragon 680 SoC Launched

Table of ContentsLG Ultra Tab priceLG Ultra Tab specifications The 7,040mAh battery in the LG Ultra Tab supports 25W rapid...

OnePlus 10T Glacier Mat Case With Sustainable Circulation Cooling, Bumper Case Sandstone Launched In India

Table of ContentsOnePlus 10T Glacier Mat Case, Bumper Case Sandstone, Tempered Glass price in India A tempered glass for the...

Latest Updates

Must read

Sony launches Alpha 7R IV mirrorless camera in India

Sony launches Alpha 7R IV mirrorless camera The camera supports...

You might also likeRELATED
Recommended to you

0
Would love your thoughts, please comment.x
()
x