With just a tap, embark on a group overseas journey.
For Didi, this is a crucial step towards high - quality development in Mexico. For the Chinese automotive industry, it offers a new viable path beyond the traditional automobile export model.
Recently, Didi Chuxing launched 500 pure - electric vehicles in the Mexican market. This move marks the implementation of its first standardized premium car service category in Latin America. Notably, all these vehicles are from domestic brands and come with a one - stop solution covering finance, charging, and maintenance.
Behind Didi's move lies a change in the logic of Chinese enterprises going global: from the past single - handed product exports to a "group - army" - style collaborative overseas expansion centered around platform - type enterprises, integrating the domestic new - energy vehicle industry chain. Didi's attempt in Latin America not only seeks a new growth engine for itself but also provides a valuable practical model for the globalization of the Chinese automotive industry.
01 Systematic Deployment: Didi Takes a Crucial Step towards Electrification in Latin America
Admittedly, the operation of 500 pure - electric vehicles may seem limited in scale just from the quantity perspective. However, the strategic path and ecological approach it represents are worthy of consideration.
This layout features two core characteristics: "localized" collaboration in the supply chain and "ecological" integration of the service model.
At the supply - chain level, all the launched pure - electric vehicles are from domestic brands, including GAC Aion and Jianghuai Automobile Group. This clearly demonstrates the collaborative ability of the Chinese supply chain in overseas markets.
Didi acts as an "integrator" here, directly connecting domestic electric - vehicle products with cost and market advantages to its overseas operation network, achieving an accurate match between "Made in China" and the "Chinese platform" in overseas scenarios.
At the service level, Didi's move goes beyond simple vehicle deployment. It has joined hands with local partners to provide drivers with a one - stop preferential plan covering vehicle purchase, leasing, maintenance, and charging.
The core purpose of this ecological layout is to systematically reduce the high initial cost of electric vehicles and the uncertainties in operation, removing the main obstacles for drivers to switch to electric vehicles. In essence, this is Didi's targeted output of its proven and complex platform operation and management capabilities in the domestic market to overseas markets.
Notably, this vehicle operation is not an isolated event but a node in Didi's electrification strategy in Latin America. It is the first large - scale implementation of the "Mexico Electric Vehicle Plan" announced by Didi in October last year. The goal of this plan is to introduce 100,000 electric vehicles to Mexico in partnership with collaborators by 2030.
Looking at the entire Latin American market, Didi's layout has been underway for some time.
As early as 2022, 99, Didi's ride - hailing platform in Brazil, took the lead in establishing the "Brazilian Sustainable Mobility Alliance". The alliance aims to increase the penetration rate of electric vehicles in new - car sales in Brazil to 15% by the end of 2025 and build 10,000 new public charging stations in Brazil. Currently, 23 enterprises have joined the alliance. The coordinated efforts in Mexico and Brazil clearly outline Didi's determination and systematic approach in promoting the electrification strategy in Latin America.
Based on the above layout, the market has reason to believe that Didi's role in Latin America is undergoing a fundamental transformation - evolving from a ride - hailing platform to an ecological builder. Data shows that as of the end of 2024, the number of registered new - energy vehicles on Didi's Chinese platform exceeded 6 million, of which about 5.1 million were pure - electric vehicles.
More importantly, in December 2024, approximately 68% of the domestic ride - hailing service mileage was contributed by electric vehicles. This globally leading electrification operation experience gives Didi the confidence to export its model to Latin America, attempting to replicate a set of mature "Chinese solutions" in this emerging market.
02 New Growth Engine: Overseas Business Drives Didi's Second Growth Curve
As the growth dividend of domestic mobile - internet users gradually reaches its ceiling, finding new incremental markets has become a common challenge for platform - type companies. For Didi, its financial report data reveals a clear trend: its domestic business remains stable, while its overseas business is rapidly growing into a new growth engine for the company.
In terms of domestic business, Didi shows a steady recovery and growth trend. According to its 2024 financial report, the total transaction volume of Didi's core platform reached 16.005 billion orders in the whole year, a year - on - year increase of 18.8%. The total gross transaction volume (GTV) reached 392.7 billion yuan, a year - on - year increase of 16.2%. Among them, the "China Mobility" segment, the cornerstone business, had an annual order volume of 12.392 billion orders, a year - on - year increase of 14.6%, and a GTV of 301.4 billion yuan, a year - on - year increase of 11.3%. These steady growth data confirm Didi's stable position in the domestic market and the resilience of user demand.
Meanwhile, the growth curve of its international business is clearly visible, and its strategic importance is becoming increasingly prominent.
The financial report shows that in 2024, the total order volume of Didi's international business reached 3.613 billion orders, a year - on - year increase of 35.8%. The total GTV was 91.3 billion yuan, a year - on - year increase of 34.8%. Focusing on the fourth quarter, the order volume reached 1.016 billion orders, with the average daily order volume exceeding 11 million, and the GTV was 24.9 billion yuan, a year - on - year increase of 32%. This is the fourth consecutive quarter that the GTV of the international business has maintained a year - on - year growth rate of over 30%.
Structurally, the international business contributed more than 22% of Didi's annual order volume and about 23% of its GTV, becoming a significant part. In terms of growth rate, the overseas market clearly indicates the company's future growth potential. In 2025, Didi's international business maintained this momentum. In the second quarter of 2025, the GTV of Didi's international business reached 27.1 billion yuan, a year - on - year increase of 27.7% at constant exchange rates. Since 2023, Didi's order volume has maintained a stable double - digit year - on - year growth for 10 consecutive quarters.
Looking at Didi's global network, it has initially reached the harvest stage. Since launching its internationalization strategy in 2018, Didi's business has covered 14 countries in Latin America, Asia - Pacific, and Africa. Notably, its internationalization is not a simple replication of the business. In core markets such as Latin America, Didi has also expanded diversified services such as food delivery and finance, deeply building a local - life ecosystem.
This in - depth development has brought positive financial signals. In 2024, the adjusted EBITA loss of Didi's international business narrowed from 2.3 billion yuan in 2023 to 1.8 billion yuan. The narrowing of the loss indicates that the in - depth implementation of its localization strategy is gradually paying off in terms of scale effect and operational efficiency, providing the possibility for the long - term sustainable development of the business.
Overall, Didi is transforming from "Didi of China" to a "global mobility service provider". In this transformation narrative, whether the overseas market can continue to contribute high - speed growth and ultimately achieve large - scale profitability has become a key variable in evaluating its future valuation and growth potential.
03 Strategic Depth Consideration: The Industrial Chessboard behind "Group - Army - Style Overseas Expansion"
The electrification project promoted by Didi in Mexico is a typical "group - army - style overseas expansion" model. This strategic choice reflects Didi's multiple considerations in responding to global competition and planning for long - term development, and also mirrors the common aspiration of the Chinese new - energy vehicle industry chain to seek global breakthroughs.
As a platform - type enterprise, Didi can join hands with domestic automakers to reduce risks and share benefits. For Didi, going global with automakers such as GAC, Jianghuai, and BYD is a high - efficiency and low - risk strategy. Automakers are responsible for providing standard - compliant hardware products, while Didi contributes its established local platform, user traffic, and operation system.
This division of labor enables Didi to promote electrification services in overseas markets in a lighter - asset model.
Similarly, for Chinese automakers at a critical stage of going global, the Didi platform provides a ready - made and large - scale commercialization channel.
In this model, automakers can bypass the long brand - building and channel - development cycles in the traditional trade model. Their products can quickly enter the operation scenario, and their reliability and economy can be verified through high - frequency daily use - which in itself is the most convincing market education.
Take the cooperation between BYD's Brazilian branch and 99, a platform under Didi, in 2023 as an example. 300 BYD D1s were provided to platform drivers through leasing. In this kind of cooperation, Didi obtained high - quality transportation capacity, and the automaker got a valuable market entry and product - display window.
Secondly, this cooperation model can also be regarded as a systematic output of the "new - energy vehicle + intelligent mobility" Chinese model. In this process, Didi and automakers form a deeply - bound industrial alliance. The development of one party is closely related to the other, and this "you - in - me, me - in - you" interest pattern further enhances the overall risk - resistance ability and comprehensive competitiveness of Chinese enterprises in overseas markets.
Furthermore, in the long run, this move can also help Didi seize the strategic high - ground in the global electrification transformation and build long - term barriers.
Currently, emerging markets such as Latin America are at the initial stage of electrification transformation, with a lot of gaps in infrastructure, industry standards, and policies and regulations. Didi's forward - looking and large - scale investment at this time will enable it to participate in formulating market rules and become an ecological leader -
By introducing tens of thousands of electric vehicles and building a supporting charging network first, it will help shape the urban - mobility landscape in the local area in the next decade. Once this ecological system matures, it will form a strong network effect and switching cost. For subsequent competitors to enter, they will face not only a ride - hailing platform but also an ecological barrier formed by specific vehicle - technology standards, dedicated charging facilities, and user usage habits.
Therefore, this model is a strategic investment focused on the future, aiming to build a solid industry moat and establish its advantageous position in the global future - mobility landscape.
04 Conclusion
The launch of 500 electric vehicles by Didi in Mexico is a symbolic beginning.
It reveals a new type of collaborative relationship between Chinese platform enterprises and the manufacturing industry in the globalization process: using the ride - hailing platform as a channel and new - energy vehicle products as carriers, packaging China's overall advantages in electrification and intelligence into "solutions" for overseas output.
For Didi, this is a crucial step towards high - quality development in Mexico. For the Chinese automotive industry, it offers a new viable path beyond the traditional automobile export model. Whether this "group - army - style overseas expansion" model can withstand the more complex international - market tests will be an important case for observing the globalization process of Chinese industries.
This article is from the WeChat official account "Liujiu Finance" (ID: liujiucaijing69), author: Fuyou, published by 36Kr with authorization.