Toyota will invest $600m into Didi Chuxing and form a joint venture also involving GAC Toyota Motor that will be focused on vehicle-related services for ride hailing drivers.
China-based ride hailing services provider Didi Chuxing raised $600m from carmaker Toyota today as part of a strategic collaboration agreement to form a joint venture.
Didi Chuxing operates a series of transportation services, including on-demand ride hailing, buses, car rental, food delivery and e-bikes. It has also created a financial services platform.
The company was formed through the merger of Didi Dache and Kuaidi Dache in 2015 and subsequently acquired US-based competitor Uber’s local subsidiary. Having initially focused on…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
