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Didi’s downfall alarms the smart EV companies that are preparing for U.S. IPO
On July 2, the news that Didi was censored by the State Internet Information Office went around like fire.
On July 4, Chinese regulators ordered app store operators in the country to remove the mobile app of Didi Global Inc.'s China service, dealing a second blow to the ride-hailing giant less than a week after its U.S. stock market debut.
The Cyberspace Administration of China (CAC), the country's internet watchdog, citing serious problems involving illegal collection of personal data, also instructed Didi Chuxing, the company’s China business, to address the issues to "ensure the safety of the personal information of users."