By Tracy Qu
Chinese food-delivery giant Meituan plans to invest $1 billion to launch operations in Brazil, as stiff competition at home pushes it to expand overseas.
The Beijing-based company plans to roll out food-delivery app Keeta in Brazil in the next few months, marking its initial foray into the South American market.
Meituan disclosed the move in a statement posted on its website Tuesday, saying that founder and Chief Executive Wang Xing has signed an investment agreement with Brazil's president, Luiz Inacio Lula da Silva. The company said it will invest $1 billion in establishing and expanding Keeta in Brazil over the next five years.
The deal comes as the Brazilian president makes a state visit to China, a move seen as a bid to strengthen cooperation between the two countries amid global trade tensions.
Chinese leader Xi Jinping met South American leaders in Beijing on Monday to discuss deepening ties.
Meituan's entry into Brazil marks its latest effort to expand abroad, following initial success in Hong Kong and the Middle East.
The delivery giant is facing an increasingly crowded market in China, as other e-commerce heavyweights like JD.com expand into the food-delivery space.
Wang said in the statement that Brazil is a big market with great potential, and that its Keeta service will aim to improve the local consumer experience and create more job opportunities in Brazil.
Write to Tracy Qu at tracy.qu@wsj.com
(END) Dow Jones Newswires
May 13, 2025 04:37 ET (08:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。