Toyota invests $600m in China’s DiDi and sets up joint venture

Toyota is to invest $600 million in Chinese ride-hailing company DiDi Chuxing and will form a joint venture to develop vehicle-related services for its drivers. The partners intend to expand the connected services of Toyota’s Mobility Services Platform to include vehicle management, maintenance and financing for customers and drivers. Toyota also plans to promote the widespread use of battery electric vehicles for future mobility services in China. The joint venture also includes Toyota’s partne
August 9, 2019 Read time: 1 min
1686 Toyota is to invest $600 million in Chinese ride-hailing company DiDi Chuxing and will form a joint venture to develop vehicle-related services for its drivers.

The partners intend to expand the connected services of Toyota’s Mobility Services Platform to include vehicle management, maintenance and financing for customers and drivers.

Toyota also plans to promote the widespread use of battery electric vehicles for future mobility services in China.

The joint venture also includes Toyota’s partnership with Chinese automaker Guangzhou Automobile.

Shigeki Tomoyama, Toyota executive vice president responsible for the connected area, says: “Looking ahead, we will work with DiDi to develop services that are more attractive, safe, and secure for our customers in China.”
UTC

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