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Toyota to invest $600m in DiDi

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Tokyo: Toyota Motor has agreed to invest $600 million in the Chinese ride-hailing app Didi Chuxing (DiDi) as well as developing a joint venture with it to expand their collabouration, the two companies said on Thursday.


Toyota said in a statement that the two companies would establish the joint venture with the Japanese carmaker’s local partnership with Guangzhou Automobile Group for vehicle-related services for ride-hailing drivers.


The new agreement will lead Toyota and DiDi to shift to full-scale implementation of services that they have been developing in China, the Japanese carmaker said. — dpa


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