Beat officially expanded to Mexico this February 18. Beat is a taxi company settling in cities such as Lima, Santiago, and Bogota. They are now looking to tear down the competition in Mexico City.
The European travel application risked launching operations in Mexico City.
“We are entering Mexico City at a time when there are already great global players and other local companies, but we are confident that we will be able to keep pace and compete,” the company said in a blog post.
Conquesting LatAm
The Greek-based firm has already been successful in other Latin American cities. German automotive giant Daimler Mercedes Benz owns it.
Beat is offering an exorbitant salary to Mexican drivers, according to reports. The company expects to enroll up to 10 times more drivers than the other cities in Latin America that it operates.
Mexico City seems crowded with rivals such as Uber and the Chinese app Didi, although Beat says there is room to grow.
“We have beaten bigger competitors before, and we intend to do it again,” said Nikos Drandakis, founder and Beat CEO.
Beat launched operations in Peru in the same year as Uber. Today controls a larger part of the taxi service market there.
A second attempt
People believe that Mexico City is a congested city. Like home of more than 21 million persons, there is a high demand for taxi services.
Beat experimented with Mexico City about five years ago, but it quickly retreated when considering that the market was challenging. “We did not have the resources back then to be successful,” Drandakis added.
Beat’s arrival will undoubtedly warm the competition, drastically reducing taxi fares for Mexican passengers.