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Uber: we have 35% market share in China. Didi Kuaidi: LOL nope

Uber CEO Travis Kalanick swung by China recently, where he pumped up excitement about his business and touted some impressive stats – figures that his main competitor has a bit of an issue with.

Kalanick’s chief claims were that Uber has “30 or 35 percent market share” in China, and that a principle reason why it’s losing to Didi Kuaidi in mainland China is that Didi is spending massive amounts of money on subsidies to encourage people to become drivers.

“Our best information right now is that Didi is spending US$70 to US$80 million a week on subsidies – that’s US$4 billion a year,” Kalanick said. “Over the last year we have gained significant market share in China and have spent far less than that.”

[Read on Tech in Asia]