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 editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
