Didi to speed up overseas services

Didi Chuxing, China's biggest car-hailing company, indicated on Thursday that it was stepping on the accelerator of global expansion, with an investment in its Brazilian counterpart.

The move signals the Beijing-based group is refocusing its attention on expanding in overseas markets after it struck a truce with Uber Technologies Inc in China, analysts said.

Didi said in a statement it has invested an undisclosed amount in 99, a major ride-sharing firm in Brazil and will assume a seat on its board of directors.