Japanese automotive giant Toyota is pumping $600 million into Chinese ride-hailing firm Didi Chuxing.
Didi Chuxing is based in Beijing and claims to be the world's leading mobile transportation platform. The company provides app-based transportation services, including taxi hailing, private car hailing, social ride-sharing ,and bike sharing.
Stephen Zhu, Senior Vice President of DiDi, said:
“DiDi is committed to helping our cities achieve new energy and smart transportation goals with partners from home and abroad.
We look forward to combining DiDi’s expertise in AI-based large-scale mobility operations and Toyota’s leading connected vehicle technology to build a next-generation intelligent transportation framework for sustainable cities.”
The deal with Didi Chuxing follows a string of investments as Toyota aims to move beyond just vehicle manufacturing. Last year, Toyota invested $500 million in Uber and $1 billion in Southeast Asia’s Grab Inc.
Shigeki Tomoyama, Executive Vice President at Toyota, commented:
"I am delighted that we are strengthening our collaboration – which utilizes Toyota's connected technologies and next-generation BEVs – with DiDi, China’s mobility service market leader.
Looking ahead, we will work with DiDi to develop services that are more attractive, safe, and secure for our customers in China."
Last year, DiDi and Toyota announced collaboration on e-Palettes which are “fully-automated, next-generation battery electric vehicles designed to be scalable and customisable for a range of Mobility-as-a-Service businesses.”
Toyota Mobility Services have also been used to improve the lives of DiDi’s ride-hailing drivers. TransLog, for example, provides drivers with quality automobile maintenance support and safe driving guidance.
DiDi and Toyota will establish a joint venture with GAC Toyota (which itself is a joint venture between Toyota and GAC Group, one of China’s largest automakers).
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