Recently, the implementation rules for local network vehicles have been continuously screened. On October 8, Beijing, Shanghai, Guangzhou and Shenzhen have successively issued drafts for the implementation of the regulations on the management of network car service, from the driver and vehicle configuration. Hard requirements are put forward, and the requirements of Beijing and Shanghai are more stringent. On October 9, Hangzhou, Chongqing, Tianjin and other places have also issued local rules. Graphite Molds,High Purity Graphite,Medium Grain Graphite,High Strength Graphite Block CARBONS TECH&CREATION(HENAN) INDUSTRY CO.,LTD , https://www.carbongraphitepart.com
After the above news was released, it caused widespread concern in the market. Didi responded in the first time. In an interview with a reporter from Securities Daily, he said that “Beijing, Shanghai, Shenzhen and other places announced the drafting of the management services for network car services. It will affect the hundreds of millions of network car users and the ten million network car drivers to a large extent. There are a few comments that I would like to discuss with the relevant departments, and I hope to discuss them with the community."
Compared with the reply of “there are several opinionsâ€, the other party’s share of the market share is small, indicating that it will actively implement the New Deal and the implementation rules of the local network, and adopt the timetable for the draft for comments. The normal channels will feedback relevant policies and suggestions to the competent authorities, and actively carry out the qualification application work.
Judging from the reporter's interview with a number of Beijing drip drivers, the drivers believe that the above requirements have undoubtedly increased the threshold of employment. After the merger of Didi and Uber China, their income has fallen like a cliff, and now they are raising the threshold for drivers. Can only choose to leave. According to the statistics of the Drip Platform, at present, less than one-fifth of the vehicles in Shanghai are in compliance with the new wheelbase requirements; of the more than 410,000 Shanghai drivers that have been activated, less than 10,000 drivers have Shanghai local household registration. .
The sudden drop in vehicle supply, the drastic reduction of drivers and the doubling of the cost of the network-related car will bring a huge blow to the activity of the users. Some venture capitalists told reporters that before the above policies appeared, the valuation of Didi was as high as With a total of 35 billion yuan and a grand plan, if the above-mentioned local rules are finally implemented, it is conservatively estimated that its valuation will be reduced to one-third.
　　 The driver has dropped sharply and the fare has doubled?
Specifically, the seven local network vehicles in North, Shanghai, Guangzhou, Shenzhen, Hangzhou, Hebei and Tianjin are required to hold local license plates. In terms of driver qualifications, Beijing, Tianjin and Shanghai require the network driver to own the vehicle. The city's household registration, Shenzhen and Hangzhou require the driver to have a local residence or local residence permit. In terms of models, Beijing, Shanghai and Shenzhen require fuel vehicle wheelbase ≥ 2700 mm, new energy vehicle wheelbase ≥ 2650 mm, Guangzhou requires body length, width and height are greater than 4.6 meters, 1.7 meters, 1.42 meters respectively; displacement, Beijing, Shenzhen requires fuel vehicle exhaust ≥ 2.0L or 1.8T. Guangzhou requires a naturally aspirated engine with a displacement of ≥1950ml and a supercharged engine with a displacement of ≥1750ml.
In response, the reporter responded to Didi, saying that the draft for comment will result in only mid- to high-end vehicles far beyond the cruise taxis. In addition, the driver of the network car must have the local household registration regulations, which inevitably raises the threshold for entry, which is the quantity control in disguise. This will result in a sharp drop in the supply of vehicles, a drastic reduction in the number of drivers, a doubling of the cost of the network, and a significant reduction in travel efficiency.
Take Shanghai as an example. According to the statistics of the Drip Platform, less than one-fifth of the vehicles currently engaged in the network meet the new wheelbase requirements; and among the more than 410,000 drivers activated in Shanghai, less than 10,000 drivers have Shanghai local household registration; Shanghai, Beijing, Shenzhen and other places on the vehicle, driver threshold, will reduce the driver group income by more than 70%.
In addition, according to the rough estimate of the drip, the passenger waiting time will be extended from the current average of 5 minutes to more than 15 minutes, and because the supply is in short supply, the driver may pick up the passengers.
Different from the response of Didi, Xu Kangming, the chief expert of the deepening of taxi reform in the Ministry of Transport, believes that the Beijing New Deal consultation draft “fully conforms†to the principle of “one city, one policy†of the Ministry of Transport, and compares the characteristics of Beijing with the characteristics of Beijing. Proper arrangement. Xu Kangming said, "The new policy will not push up the price of the network car, and will also keep the cruise car at a lower price."
　 Valuation is severely reduced
Time returned to August this year, when Didi announced a strategic agreement with Uber Global, Didi will acquire Uber China's brand, business, data and other assets and operate in mainland China. Based on this, Didi successfully PK lost Uber China's biggest competitor. After the merger of Uber China, Didi's market share exceeded 93%, becoming the absolute leader in the Chinese car market.
As a result, Didi became the only company jointly invested by Tencent, Alibaba and Baidu, and Uber Global became the largest shareholder of Didi. At the same time, Di Wei's founder and chairman, Cheng Wei, will join Uber's global board of directors, and Uber founder Travis Kalanick will also join Didi's board of directors. After ending the war with Uber China, the new Didi value was valued at more than $30 billion, reaching nearly $35 billion.
At this time, the drop of interest is high, and some venture capitalists said in an interview that the Internet industry companies are biased towards oligarchy. If they can't do the top five in the industry, they will basically not be competitive. After the merger of Didi and Uber China Undoubtedly raised the threshold of new entrants, forming an oligopoly effect.
However, the local network about the car draft for comments to make it open again, and other venture capitalists said that if the local network about the car draft for the final draft and implementation, Didi will undoubtedly suffer the most serious impact in history The sudden decrease in the number of drivers and the doubling of fares will undoubtedly greatly reduce the platform activity. As a sharing platform, the valuation is very large and comes from the user's activity. “Although there are still many cities that have not yet been introduced. According to the previous estimate of nearly 35 billion US dollars, after the land acquisition of the local network, the number of vehicles in Shanghai decreased by one-fifth and the marginal cost effect of the enterprise was estimated. The market value of Didi will be reduced to one-third."
However, some venture capitalists do not agree with the above viewpoints. According to their analysis, despite the increase in the barriers to entry for drivers of the network, the market demand for the network car will not decrease. Drip platform revenue will also increase and will not affect the titer valuation.