What Does Didi Delisting Mean For Shareholders

Didi's move could mark the first in a wave of Chinese delistings from the U.S. Securities and Exchange Commission on Thursday announced its final plan for putting in place a new law that mandates foreign companies open their books to U.S. scrutiny or risk being kicked off the NYSE and Nasdaq within three years. Didi's delisting comes at the behest of Chinese regulators, who had long expressed concern that going public in the U.S. could risk exposing its vast troves of data to foreign powers.

Despite regulatory unease, the firm pushed ahead with its IPO in June, a move that Beijing regarded as a challenge to its authority, Bloomberg News has reported. The government reacted swiftly, announcing a cybersecurity probe into the firm days after its debut and taking its services off domestic app stores. Since then, authorities have weighed unprecedented penalties for the company, including a forced delisting. People with knowledge of the matter said last week that Beijing has directed management to come up with a plan to withdraw from the NYSE.

Chinese ride-sharing giant DiDi has been caught in Chinese regulators' crosshairs since it launched its starcrossed $4.4 billion U.S. DiDi finally announced last Friday its plans to delist from the New York Stock Exchange and relist in Hong Kong. The company's departure from the U.S. could make it the test case in a transition to a tougher data security oversight regime that could shape how Chinese tech giants conduct their businesses in the future. The US Securities and Exchange Commission has been calling on Chinese firms listed in the US to be more transparent with their books. Yesterday, the SEC said that Chinese companies need to reveal whether they are owned or controlled by a Chinese government entity, which could hastenthe "decoupling" of Chinese stocks and the US markets.

China has not given the SEC access to local audits of firms listed in the US due to national security concerns, which has long been seen as a major risk to US investor interests. If China still has national security concerns about DiDi, then China might reject its bid to relist in Hong Kong and force it to relist its shares on a mainland exchange that foreign investors can't access as easily. If that happens, DiDi might backtrack and try to take itself private at a discount -- which would be the worst-case scenario for U.S. investors who bought the stock at its IPO price. In the financial markets, the term "delisting" refers to the removal of a stock's shares from an exchange. But a delisting event doesn't necessarily mean that a company's shares stop trading altogether, because many delisted stocks continue to trade over-the-counter . "Didi's plan to delist in the United States and the listing of Hong Kong stocks I believe will have an obvious impact on location decisions for large technology stocks' future listings.

When a delisting occurs, it typically results in shareholders losing all of their investment in a particular stock unless they sell their shares before the delisting occurs. However, if a company is delisted and investors do not tender their shares, some stocks can be traded on the over-the-counter market. A local retail investor is warning about the risks of buying shares in Chinese companies listed on US stock exchanges following the delisting of a major firm. The announcement, which comes less than six months after DiDi's initial public offering , shouldn't surprise investors. Instead of a simple privatization from New York, Didi is opting to seek a listing on the Hong Kong Stock Exchange first.

The move will ensure that its American depositary shares will be "convertible into freely tradable shares of the Company on another internationally recognized stock exchange," according to its statement. The firm is planning to file for the Hong Kong listing around March, people with knowledge of the matter told Bloomberg News on Friday, asking not to be identified as the plans haven't been made public. The entire process could take three to six months to complete, First Shanghai Securities analyst Linus Yip said. The US government, which sees China as the greatest economic, political and military rival, has been putting pressure of its own on Chinese ties.

It has forced some state-controlled Chinese companies in delist their US shares. On Thursday, the US Securities and Exchange Commission adopted rules that would require reluctant Chinese companies listed in the United States to further open their books to American accounting firms or get kicked off its stock exchanges. The company announced the decision yesterday (Dec. 2), and said it will ensure its American depositary shares can be converted into "freely tradable shares" on another international stock exchange. It also said it has started pursuing a listing on the Hong Kong Stock Exchange.

The firm didn't give a reason for the delisting, or a time frame for the Hong Kong listing. The American government, which sees China as the greatest economic, political and military rival, has been putting pressure of its own on Chinese ties. It has forced some state-controlled Chinese companies in delist their U.S. shares. Securities and Exchange Commission adopted rules that would require reluctant Chinese companies listed in the United States to further open their books to American accounting firms or get kicked off its stock exchanges.

They can sell earlier if they wish to; Didi shares ended down 22.1% on Friday as many investors chose to cash out. On 4 July 2021, the Cyberspace Administration of China ordered app stores to remove DiDi, after citing violations on the company's collection and usage of personal information. As a result, DiDi stopped registering new users and agreed that it would make changes to comply with rules and protect users' rights. By September 2015, Didi Kuaidi had obtained 80% market share in private car hailing services and 99% of the taxis market share. The same month, Didi Kuaidi announced the launch of a rebrand process, including a plan to rename itself "Didi Chuxing".

Following are reactions to ride-hailing giant Didi Global's decision to delist from the New York stock exchange and pursue a listing in Hong Kong, succumbing to pressure from Chinese regulators concerned about data security. According to a press release, Didi announced ADR shares "will be convertible into freely tradable shares" in Hong Kong. However, for retail investors, the delisting and relisting could be problematic as many brokerages don't offer access to the HKEX. – Following are reactions to ride-hailing giant Didi Global's decision to delist from the New York stock exchange and pursue a listing in Hong Kong, succumbing to pressure from Chinese regulators concerned about data security.

Stocks are also delisted when a company decides to return to being a private rather than publicly held company. What is unusual is for a company, such as Didi, to delist from one exchange and relist on another . It is more common for a company to list its shares on multiple stock exchanges around the world, making its stock available for trading in both New York and Hong Kong, for example. There has been a rising tide of delistings among Chinese companies traded in the US amid growing bilateral tensions and toughening regulatory scrutiny from both sides. For most companies to delist from major exchanges, privatization would be offered by controlling shareholders to buy back shares from investors at a premium.

What Does Delisting Mean For Shareholders Securities and Exchange Commission finalized rules that would allow it to delist non-US companies that refuse to open their books to the U.S. regulators. China has for years rejected U.S. audits of its firms, citing national security concerns. This adds a new layer of protection for investors in markets overseen by the SEC.

Companies can become involuntarily delisted by the exchange if they fail to maintain certain standards. In the case of DiDi, this move appears to remove regulatory hurdles. Officials at China's Securities Regulatory Commission have resisted the U.S. Securities and Exchange Commission's information disclosure requirements, which could reveal potentially sensitive market information. Didi went ahead with the listing and within a week, the Cyberspace Administration of China, China's top internet regulator, ordered the main Didi app to be taken down pending a cybersecurity review.

Days later, the CAC ordered the removal from app stores of an additional 25 apps owned by Didi Global Inc. Even if those issues are addressed, the months-long probe into Didi has likely already taken a toll. President Xi Jinping's campaign to achieve "common prosperity" has also heaped pressure on platform companies like Didi to offer better wages and benefits to its army of drivers. Agencies including the antitrust watchdog and transport ministry on Tuesday published a set of wide-ranging guidelines for the ride-hailing industry that will require firms to strengthen social insurance while adopting "reasonable" commissions.

Consequently, it tends to attract companies that are more current with the release of their financial statements. But in either case, whether a stock drops down to the OTCBB or the pink sheets, it invariably suffers a decline in investor confidence after hemorrhaging the trust of the major exchange it once traded on. And if the company remains delisted beyond a short time period, institutional investors and investment banking analysts will likely cease researching the stock altogether. In the event of a stock's delisting from New York, investors could exchange their U.S.-listed shares for the Hong Kong-listed ones. Not all U.S.-listed Chinese companies are eligible for secondary listings in Hong Kong, Morgan Stanley analysts noted.

In some cases, investors may also be given an option to exchange their delisted American shares for shares in the company that are traded in another market. For example, if a Chinese company had a dual listing in Hong Kong and the U.S., the investor might be able to exchange his or her American-listed shares for the Hong Kong-listed shares. As the Financial Times put it, Xi Jinping and Senator Rubio are now in agreement – in favor of a dissolution of many of the financial linkages that have developed over the last two decades between the Chinese private sector and Wall Street.

Indeed, just this week, we learn that ByteDance – another Chinese tech giant with global reach – has bent the knee to Beijing on this very point, and "postponed" its plans for a U.S. listing. Across the broad China-Tech landscape there is a general cooling down of animal spirits. Many of the "founders" have seen what happened to Jack Ma, and are stepping aside, lowering their public profiles. The Financial Cold War, which has been brewing for a while, was openly declared some months ago, neither in China nor in New York, but in Washington D.C. – when both houses of Congress passed unanimously the Holding Foreign Companies Accountable Act. This law requires, among other things, that all foreign firms listed on U.S. stock exchanges need to comply with the audit review process overseen by the Public Company Accounting Standards Board .

This agency was created by the Sarbanes-Oxley Act of 2002, and all U.S. public companies are required to comply, as are companies in almost every other country that trade in New York. China has said it will absolutely refuse to allow its companies to cooperate. They are the only country in the world that has taken this position. This is the only way that Didi can survive, and this is maybe a good thing for the investors in the U.S. market.

There are other issues related to Didi in addition to the data security. Didi also embedded financial services on their platform, they withheld the payment to the drivers, charge high fees for drivers, make loans with high interest rates etc. And the inherent problems of the share-riding due to the fact there is no appropriate regulation of the bad behavior of the drivers. The delisting was announced a few weeks before the six-month lock-up expires and major investors can exit their positions.

It also came a day after amendments to the Holding Foreign Companies Accountable Act were adopted by the US Securities and Exchange Commission . These will require, among other things, companies to reveal to the SEC whether they are owned or controlled by any foreign government, and to declare the names of any Chinese Communist Party officials who are members of its board of directors. In less than a year since its US initial public offering in June, Chinese ride-hailing group Didi Chuxing announced on Chinese blogging website, Weibo, its plans todelistfrom New York as well as preparation to reissue its shares in Hong Kong. The announcement on December 3 follows months of regulatory scrutiny from Beijing that has seen Didi's market value be wiped out by more thanhalf, and the launch of a probe into its collection of personal information. The Didi delisting comes as U.S. regulators move to tighten the rules around foreign companies planning to list stocks on American exchanges. However, we should recall that when U.S. regulators forced China's top telecom companies to delist their shares amid national security concerns earlier this year, they also forbade them from shifting to OTC exchanges.

They also barred U.S. citizens from holding the Hong Kong-based shares. The regulations so far range from data security reviews to industry-specific restrictions on the use of the variable interest entity structure. A VIE creates a listing through an offshore shell company, preventing investors in the U.S.-listed stock from having majority voting rights over the business.

In the case of any delisting, it is unlikely that your investment will completely disappear. There will be warning signs and there will be ample time for you to sell your shares even if you have to do so at a significant loss. I hope that no investor would ever have to experience such a scenario as it would most likely result in a losing trade, but it is part and parcel of investing. SHANGHAI – Chinese ride-hailing giant Didi Global said on Friday it will start work on delisting from the New York stock exchange and begin pursuing a listing in Hong Kong after obtaining the approval of its board. In July 2015, Didi Kuaidi completed a US$2 billion fundraising round, bringing the company's cash reserves to over US$3.5 billion; the same month, Didi Kuaidi was reported to get 80.2% market share in car hire services. The July 2015 fundraise is ranked as the world's largest single fundraising round by any private company, as well as the largest fundraising round for a Chinese mobile internet company at that time.

Generally speaking, investors and traders can protect themselves from potential delistings by trading high-quality companies, and avoiding companies with poor reputations. But as illustrated by DiDi and Luckin Coffee, unexpected things do happen in the market. Didi Chuxing, a $39 billion company that is China's answer to Uber, said Friday that it would delist its shares from the New York Stock Exchange. Just six months ago, Didi was a Wall Street darling, raising billions of dollars from US pension funds and international investors in a splashy New York initial public offering. This potential will allow investors to make a rather quick buck, with share currently trading at around $6.50 per share, which means that a privatization plan at around $14.00 per share represents the potential of a 115% gain.

When it comes to the trade arbitrage opportunity that this is, even if the company goes private at $10.00 per share banking on Chinese agencies shielding them from US-based lawsuits, it represents a big premium to today's share price. According to market rules, the company can submit a voluntary delisting application to the New York exchange as soon as Dec 13 and withdraw its shares from the market 10 days later. "Didi's Hong Kong listing path will no doubt to be a bumpy ride, and its US delisting will also face multiple challenges from investors and regulators," said a private equity fund manager. Didi said Dec 3 that its board of directors approved its delisting plan. DiDi probably believes that delisting its U.S. shares and relisting them in Hong Kong will appease China's regulators and enable it to relaunch its apps. But how will this abrupt move affect U.S. investors, many of whom are probably holding shares of a battered stock that has plummeted 50% below its IPO price?

Didi was founded in 2012 as a taxi-hailing app and has expanded into other ride-hailing options including private cars and buses. It is also investing in electric cars, artificial intelligence, and other technology development. Didi Global Inc's top shareholders include Japanese multinational SoftBank Group Corp. and U.S.-based ride-hailing app Uber, which sold its China business to Didi in 2016. Didi also needs to appease regulatory concerns over its data security. The company had previously put forth a number of a number of proposals to appease the powerful Cybersecurity Administration of China, including ceding management of its data to a private third party, Bloomberg reported in August.

It's uncertain how such an arrangement, if pursued, would impact Didi's access to the data, which is crucial to helping the firm orchestrate 25 million rides a day between some 400 million riders and drivers. Didi has dropped 52% from post-IPO peak, wiping out about $42 billion of market value. SoftBank Group Corp., the largest minority shareholder in Didi, last month reported a record loss at its Vision Fund unit, in part because of the stock's plunge. Some shareholders may use the delisting as an excuse to exit, while certain retail investors may not be equipped to hold Hong Kong shares. Didi Chuxing, a $39 billion company that is China's answer to Uber, said on Friday that it would delist its shares from the New York Stock Exchange.

Just six months ago, Didi was a Wall Street darling, raising billions of dollars from American pension funds and international investors in a splashy New York initial public offering. Regulators said in July they would step up scrutiny of Chinese tech companies with shares traded on foreign exchanges. Entrepreneurs who are largely shut out of the state-run financial system have raised billions of dollars abroad.

But Beijing is tightening control over that and promising to give them more ways to raise money in China. Didi's one-sentence announcement gave no explanation but share prices of Didi and other tech companies including e-commerce giant Alibaba Group have sunk after they were hit by data-security and anti-monopoly crackdowns. As a result, individual investors have less data on which to base their investment decisions, often causing such stocks to drop off their radar screens.

Not surprisingly, a delisted company's liquidity and trading volume typically plummet as a result. "You also have a very emboldened cyber security regulator in China, that is now saying basically that it doesn't want certain types of companies to necessarily be listed overseas. There's been a lot of language around how a company like DiDi Global which is one of the world's biggest ride hailing companies could represent a national security threat in some of the data it has access to. Once the risk of delisting arises, investors and traders usually have a range of available choices for dealing with this type of situation. At the top of the list, of course, is exiting all positions in a delisted company. Shortly after its $4.4 billion initial public offering in the United States in late June, Chinese regulators banned Didi from app stores in China, saying it broke data privacy laws and posed cybersecurity risks.

Didi's shares have lost more than afifthin value since the delisting news first surfaced at the end November. According to Ritter, while some shareholders may look to sell, other retail investors simply may not be able to hold Hong Kong shares. Didi's delisting speaks volumes for the sector and adds to the many intractable challenges facing Chinese technology companies. Back in late 2020, Chinese regulators unexpectedly scrapped the $30 billion IPO of Ant Group, Alibaba's fintech arm. In the months that followed, several of the country's largest tech companies paid antitrust fines, whilesupportfor the clampdown became more widely expressed.

Fortnite Chapter 2 Season 3 Cars Release Date

The leaks were provided by FireMonkey and Hypex, who have been known in the past to deliver trustable leaks. The water levels in Fortnite has begun to recede and is expected to go further down over the course of the season. Thus, players will require vehicles to commute through the Battle Royale map. Epic Games had teased the inclusion of cars with Fortnite Season 3's trailer, but disappointed fans when they were nowhere to be found on the map once the downtime was over. Fortnite season 3 of chapter 2 received update 13.30 yesterday and it was highly believed that this patch would allow players to start driving cars. Unfortunately, this hasn't happened and this has resulted in the community asking if cars are delayed.

While this appears to be the case, they should be coming to season 3 very soon if the week 6 leaked challenges are to be believed. Disappointing news this week as Epic Games were forced to delay the Fortnite cars release date long past when players thought they'd be zooming around the map. While not completely unexpected, gamers were still hopeful that the new modes of transport would be available to try out in July. Epic Games were expected to launch a big Car update for Fortnite earlier this week but when the patch did arrive, it only confirmed they would be coming soon. Fortnite Battle Royale leaks have always been interesting as it allows players to know about the upcoming additions in the game.

The recent leaks in Fornite have revolved around the inclusion of vehicles in the game which is reportedly going to be available only for a limited time in Fortnite season 3. Whereas now, players can hook onto sharks and cruise their way through the map. Now, in season 3, fans will finally get to see cars enter the game, according to the leaks. As in every new season, you can expect new challenges and secret challenges, a new battle pass with exclusive skins and of course a lot of rewards. The delay of cars for Season 3 was announced by the official Fortnite Twitter account. In typical FortniteTwitter fashion, the tweet attempted to soften the blow by presenting the information in a roundabout manner.

This time, Epic joked that the delay was due to typos in a non-existent insurance policy, which didn't calm players as much as the developer probably hoped it would. Given that the tweet says the vehicles "got taken for inspection," the delay is likely being used to squash some remaining bugs. No official release date for the update was given, but the tweet ended with the note, "Expect a few weeks until we're road ready."

Epic Games has even alluded to the addition of cars on the official page for Season 3, writing "As time goes on and the water recedes, even more locations will be uncovered. When there's enough room for a bunch of cars to drive around, Epic will add cars into the game. There's no exact date to expect these new vehicles just yet, but they'll likely be added sometime in the second half of Season 3.

Fortnite also dropped a mid-season space event called the "Galaxy Cup", on July 26 and 27. Top-tier android players could compete for a Galaxy Scout outfit and other gear, while all participants received a basic galactic "wrap" for weapons after doing some of the tournament. A few weeks later, Fortnite made the Galaxy Scout outfit, glider, harvesting tools and wrap available in the store for two days. It's unknown when the set will be back, but keep checking daily when the content refreshes.

According to the leaker, the cars will be added to the game on July 21st. So we can finally get new vehicles with which we can move around the map. Between 0 and 10 Cars will spawn per Battle Royale round, so you need to be quick! The water level is gradually decreasing, and the map will soon look different, as other leaks have already shown.

With the release of cars, Epic also adding the ability to fuel them at gas stations scattered around the map, or by finding gas canisters. It seems overall players are happy with the addition of cars although the fueling system requiring players to simply dump fuel over the car still seems very strange and lazy to me. Players can carry gas canisters to refuel their vehicles when they are running low.

To fuel cars at gas stations, players must drive up to a gas pump, get out of the car, grab a gas nozzle and hold the corresponding button. Players also tend to look for advice on how to drive Fortnite cars once they've got hold of a vehicle, especially as the steering can be confusing if you're not used to the control scheme. On top of that, these motors need a supply of fuel to continue on their journeys, so knowing where to find Fortnite gas stations is essential for longer road trips. The Fortnite Chapter 2 – Season 3 v13.30 update arrived early this morning for all players. There were some rumors leading up to this update that signaled the long-awaited arrivals of driveable Cars was imminent. However, to the community's dismay, it appears that Epic Games has delayed the release of the vehicles for a later update.

At the time of writing, it's unknown if this is due to a problem with the Cars or a conscious decision on Epic's part. Either way, the exact arrival of Cars in Fortnite is unknown, but that doesn't mean we can't speculate. Fortnite Season 3 has been a dynamic time for the game so far, with changing water levels altering the shape of the map. Seven weeks later and after some delays, cars have finally arrived in Fortnite. Patch v13.40 introduced driveable cars into the ultra-popular Battle Royale title, but the developers also fixed some bugs that have plagued the game for quite some time. We've gathered together the list of patch notes courtesy of Jeff03blue_Instinct on Reddit.

After a wait of many days, cars have finally arrived in Fortnite Chapter 2 Season 3, and the game feels different and fresh. Vehicles have revamped this battle royale game and introduced a whole new experience to players. Sounds of engines are echoing throughout the game, as everyone is testing out the new cars. Lots of fans have been wanting to speed around the map and crash into other players, and leakers such as iFireMonkey have even released in-depth details about driveable cars and their stats.

When the tides do pull back and vehicles are implemented, players should expect to find multiple kinds of cars scattered around the island. We saw the racing cars, pickup truck, and 18-wheeler in the Season 3 Battle Pass trailer, but Epic could release more once the update is ready. As many players quickly figured out, the cars in Fortnite are coming at a later date.

We're not sure exactly when, but the trailer confirms that vehicles are coming soon. Like the Helicopters in Season 2, players may have to wait for a couple of updates before Epic releases them. The fourth challenge on this list requires players to gas up a vehicle at Catty Corner. Obviously, this current week is Week 6 and the game's big update didn't release Cars into Fortnite.

So, either Epic Games made a mistake or they were forced to delay the arrival of vehicles and will have to change this challenge list. In addition to delays, Fortnite is no stranger to buggy vehicles, so it makes sense for Epic to want to delay cars' release to smooth things out. At the start of Season 1, players found a way to make boats fly endlessly around the map, which obviously gave a major advantage to those who knew how to repeat the glitch. The end of Season 2 introduced a glitch that let players hop out of their helicopters and fly around the map without a vehicle.

And no long-time player could forget the mechs from FortniteChapter 1that were broken seemingly from the moment they were released. Fortnite cars release date and start time is fast approaching, with the highly anticipated feature set to launch in Battle Royale soon. Fans have been looking forward to the Fortnite cars feature ever since the launch of the season 3 Battle Pass in June. On the season 3 release date the Battle Pass trailer showcased the first Fortnite cars footage. Fortnite Chapter 2 – Season 3 released on June 17 with a redesigned map.

Some of the map's unique features included a lot of water and plenty of mobility with boats, launch pads, helicopters, crash pads. Since then, the water level on the current Fortnite map has drained significantly. Epic Games teased the first appearance of cars in Fortnite at the beginning of this new season. Firstly, there will be a piece of mobile fueling equipment called the refill can, which will allow gamers to fill their vehicles with fuel without going to the nearest gas station. Although the vehicles are featured prominently in the aforementioned video, you currently cannot find any cars around Fortnite's map. Fortnite fans look to have found out when the highly anticipated cars feature will launch in Battle Royale.

Driveable cars will be coming to Fortnite, with the upcoming feature getting teased when the season 3 Battle Pass first launched last month. In the Battle Pass trailer fans got a glimpse of some of the vehicles they will be able to get behind the wheel of. Fortnite has recently made a trend of delaying content at the last minute.

The start of Season 3 was delayed three times over the course of several months, following a similar delay for Season 2. The game has been working hard to bring in more newbie and casual players like me, including introducing cars in early August and embedding humorous "Easter eggs" as you wander around. One of my early sessions with friends this spring had us stumbling upon, of all things, a King Arthur-like sword embedded in a rock.

More recently, Fortnite placed an in-game soccer/football experience on the map where teammates can kick balls into the goals and see who is winning on the scoreboard. This spring, "Star Wars Day" featured lightsabers as weapons, as well as buyable outfits featuring Rey, Kylo Ren and a Sith Trooper. An in-game concert dubbed "Astronomical" ran from April 23 to 25, featuring rapper Travis Scott. There's more fuel for a space-themed season embedded in recent challenges.

Another secret quest had players helping a group of mini-islanders known as the Coral Buddies. The goal is to help these cute creatures — who are isolated on islands at the top-left side of the map — progress through the wood, stone, modern and nuclear ages. Modified vehicles had been teased by leakers a while back, and a few fans noticed their presence in trailers for the new season. Now, thev16.20 update, has finally brought vehicle mods to the battle royale. Epic Games announced that Season 3's gradually receding water would bring "new ways to get around," and after teasing cars in the Season 3 release trailer, players are hyped for their arrival.

Cars will most likely be introduced once more roadways and open space become accessible, which might not be for a while. Especially in Season 3, where so much is happening, leaks tell us what we can expect long before they are released. Shortly after the release of Season 3, we learned that mobile cars would soon come into play.

But now we know more about the vehicles when they will come, and what cool, new LTM there will be with them. Godfall is a marauder slasher set in a splendid dream universe stacked up with valiant knights and generally secret magic. It's a truncated version of the action-RPG original with skill points, so players can try out the experience at max level. Challenger Edition's endgame community is reasonable with all updated arrivals of Godfall and supports cross-gen play. Fortnite players have been looking forward to drivable vehicles since they were teased at the start of Season 3. Rumors suggested we'd see them this week, but development studio Epic has now said it will be a few more weeks before they'll appear.

Players are speculating what that will mean for the rest of Season 3's timeline. Fortnite Chapter 2 Season 3 Splashdown TrailerEpic planned to release cars during the fourth of fifth week of season 3, but then announced it would be delayed for a few weeks. The Fortnite Season 3 map has always had plenty of cars parked around most locations, but none of them were drivable until this latest update. Now, however, the cars you can drive seem to spawn around gas stations, but while these locations seem to be fixed, they're not guaranteed to spawn, like golden chests. But one feature we are still waiting for in the new season is the appearance of cars, which you'll be able to drive once water levels have fallen enough. Epic Games first teased the introduction of cars back in June when it released the trailer for the battle pass of Fortnite Chapter 2, Season 3.

The clip features scenes of several cars in action, including the aforementioned Whiplash, as well as a taxi, a tractor-trailer and more. We'd wager that the driveable cars are not in the game as of writing simply because there is too much water on the map right now. If rumors are to be believed, the amount of water will slowly diminish across the Season. We could, therefore, see driveable cars added sometime into Chapter 2 Season 3. A possible Fortnite cars release date could be early-mid July 2020, mid-way through the Season.

We'll update this guide with more information when it becomes available. Cars are still not in Fortnite thanks to their arrival having been delayed by Epic Games. Presumably, the developers will wait a few weeks or more to release the cars. This will give players enough time to enjoy Season 3 in its current state. While the delay of cars and trucks may seem tough to swallow, it's better for Fortnite to fix its bugs before releasing them to the public.

However, it seems that delaying big updates is just a matter of course forFortnite at this point. In the future, whoever is running the show over at Fortnite HQ would do well to set more reasonable deadlines. As much as players appreciate Epic Games taking the time to release a finished product, they would much rather be given deadlines they know Fortnite can meet. Most players expected to see cars come to Fortnite in v13.30, which released this week. Instead, Epic trolled us by removing all of the cars on the Fortnite map. At first, we assumed that this was a way to incorporate cars into the lore.

We'll be driving the cars that have been on the map since Season 1, so the Fortnite insurance company needs to fix them up before we can drive them. "Soccer skin" means more than just the skin that someone is wearing, at this point. It's a term that longtime Fortnite players will likely remember for the rest of their gaming careers. However, because of its frequent item shop appearances, it's last on the list. When the Fortnite Season 3 trailer came out, fans were excited to learn that cars would be entering the game.

When the downtime ended and players began to search the map, they saw that cars were nowhere to be found. Long-time players may remember that space themes have been around a while. A Millennium Falcon-shaped glider was available to all gamers for free, during last December's Winterfest.

Live events in the game have also included a comet, asteroid impacts and even a huge black hole that swallowed the Fortnite map whole at the end of Chapter 1, in October 2019. For a water-themed season, Fortnite surprisingly has a lot of space skins and content available in its levels. The "Battle Pass" (available for 1,000 V-bucks or $7.99 USD) is advertised as including Levels 1 to 100, although more content unlocks well into the 100s. Unfortunately, it appears that the new cars in Fortnite Season 3 are not currently available. Right now, at the beginning of the season, the majority of the map is underwater, meaning there isn't much use for cars at the moment.

However, Fortnite insiders have shown that the water level will go down throughout the season, eventually returning the map to its former land-based glory. This means cars will likely become available sometime later during Fortnite Chapter 2 Season 3. At the moment though, it looks like riding a shark is the best way to get around. The addition of more fast travel options in the Fortnite map will keep players hyped for their release. Even if it takes a while to release cars into the Fortnite world, the alternative of using sharks and whirlpools to get around the map should keep players satisfied until their release.