Meituan Dache, the ride-hailing app of China's online food delivery giant Meituan, was re-launched on app stores from Friday, after apps of Didi Chuxing were barred from registering new users and were removed from app stores.
The Meituan Dache app was launched in February 2017 and was merged into Meituan App in April 2019. But in June 2019, Metuan Dache was removed from app stores in order to control costs following sustained losses, said Meituan.
China is now the world's largest car-hailing market. The country accounted for 13.1% of global ride-hailing consumption in 2020, with a market size of RMB 5.7 trillion (USD 879.8 billion), and is expected to grow at a compound annual growth rate of 13.1% to reach 10.6 RMB trillion by 2025, according to a report by TF Securities.
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