Asian Tech Press (Apr. 8) -- Cao Cao Mobility, commonly known as Caocao Chuxing, Geely-backed ride-hailing platform, denied that it will be purchased by its Chinese rival Didi Global Inc.

A market rumor on Friday said that a number of Didi employees joined Caocao Chuxing, and Didi intends to merge it at the appropriate time.

The rumor also cited the example of Gong Xin, who was general manager of the DiDi Premier division responsible for the chauffeur and premier services well as regional ride-hailing business, as CEO of Caocao Chuxing

In May 2021, before Didi's controversial listing in the U.S., former Didi executive Gong Xin joined Caocao Chuxing as CEO.

Didi rival responded by saying, "The rumor is untrue, and Caocao Chuxing has no intention or move related to it."

Yu Feng, head of public relations for Caocao Chuxing, said Friday that the company's business is developing healthily and well, and since the completion of its Series B financing round in September last year, it is on the fast track of business development.

"The company will have new progress in business landing next," Yu added.

Caocao Chuxing focuses on new energy vehicles, and is a strategic investment business of Zhejiang Geely Holding Group Co., Ltd, and closed 3.8 billion yuan ($588.4 million) Series B financing in 2021.