Didi Kuaidi, Uber’s chief rival in China, reportedly invested in Lyft – Uber’s biggest US rival – earlier this year, The Wall Street Journal reports.
Didi Kuaidi joins a slew of other Asian investors in Lyft, including Alibaba, Rakuten, and Tencent.
Citing sources close to the matter, The Wall Street Journal reports that Lyft has “discussed ways to work with its Chinese investors to compete strategically with Uber, including sharing product plans.”
Earlier this week, Didi Kuaidi closed a $3 billion round of venture capital funding. In total, Didi Kuaidi has amassed a $4 billion war chest of venture capital funding.
Didi Kuaidi was created in February when competing apps Didi Dache and Kuaidi Dache merged to cut the costs of competing with each other – and more importantly, with Uber.
The ride-sharing and ride-hailing arms race in China is only heating up with Uber’s biggest rival in the country making an investment in Uber’s biggest US rival.
Previously, Didi Kuaidi invested in GrabTaxi, a Singapore-based ride-hailing service, which closed a $350 million round of funding in August.
Lyft, on the other hand, has chosen to focus on its operations in the US instead of expanding internationally. (Lyft declined to comment for this story.)