Vocabulary:
- merger [MUR-jer]
- monopolize [muh-NOP-uh-lahyz]
- ride-hailing [RAHYD heyl-ing]
- formidable [FAWR-mi-duh-buh-l]
- war chest [WAWR ches]
(noun) an arrangement in which two or more companies or organizations join together
The merger of the Cranberry Co. with Apples Co. surprised everybody.
(verb) a business obtains exclusive control of an industry
The company has monopolized the market.
(adjective) transportation from a taxi service usually booked through an app
Ride-hailing services have improved our daily commute.
(adjective) inspiring fear or respect by being impressively large, powerful or excellent
Cranberry Co. has built a formidable reputation for quality products.
(noun) a fund for a specific purpose such as acquisition
McDonald’s is known to have a huge war chest.
Chinese ride-hailing giant, Didi Chuxing, has announced its’ merger with 99. The deal is worth $600 million. Over the past 12 months, Didi has sent engineering teams to Sau Paolo to work on 99’s technology. Moreover, Didi has secured $4 billion in funds for a global expansion. Cheng Wei, Didi’s CEO, stated that globalization is the company’s main priority moving forward.
Didi also stated that it saw similarities between Brazil and China’s transportation systems. In 2016, Didi managed to monopolize the ride-hailing service industry in China as it drove out its’ competitor, Uber. Didi has partnered with other ride-hailing companies, including Grab in Southeast Asia, Ola in India, and Taxify, which operates internationally as well. This is an attempt to compete against Uber and its formidable war chest.
True or False:
- Didi Chuxing will join a Brazilian company called 99.
- Didi has sent teams to Brazil to improve on 99’s business.
- Didi drove out Uber in China in 2015.
- Didi compared the transportation system in China and Brazil.
- 99 and Didi’s merger is worth $4 billion.
Discussion Questions:
- Do you think that regular taxis will become obsolete in the next 50 years? Please explain your answer.
- What is the most efficient mode of transportation in your country?
- How can the government improve the transportation system in Japan?
- How important is a country’s transportation system? Discuss.
- What is the role of a public transportation system to a country’s progress?
Express Your Opinion:
- “New technology is transforming the way we plan, design, build, and operate transportation systems.”- Access Magazine
- “Cities are struggling with transportation today and will struggle even more in the future.” -Bill Ford, Jr.
- “You can’t understand a city without using its public transportation system.”- Erol Ozan