Apple invests in Chinese ride-sharing company

Apple has invested US$1 billion in Chinese ride-hailing service DiDi Chuxing, a move that Apple chief executive Tim Cook said would help the company better understand the critical Chinese market. According to Reuters, the move aligns Apple with Uber Technologies’ chief rival in China, as automakers and technology companies forge new alliances and make cross investments. General Motors, for example, recently bought autonomous driving technology company Cruise Automation and has also taken a stake in US ri
May 17, 2016 Read time: 2 mins
493 Apple has invested US$1 billion in Chinese ride-hailing service DiDi Chuxing, a move that Apple chief executive Tim Cook said would help the company better understand the critical Chinese market.

According to Reuters, the move aligns Apple with 8336 Uber Technologies’ chief rival in China, as automakers and technology companies forge new alliances and make cross investments. 948 General Motors, for example, recently bought autonomous driving technology company Cruise Automation and has also taken a stake in US ride-sharing company Lyft.

“We are making the investment for a number of strategic reasons, including a chance to learn more about certain segments of the China market,” Cook said in an interview with Reuters. “Of course, we believe it will deliver a strong return for our invested capital over time as well.”

The investment makes Apple a strategic investor in DiDi and gives it a stake in two growing technologies, the sharing economy and car technology.

For more information on companies in this article

Related Content

  • Self-driving car start-up raises major investment
    August 24, 2016
    Quanergy Systems, which makes solid state LiDAR sensors and smart sensing solutions used in self-driving cars, has raised US$90 million from investors including Sensata Technologies, Delphi Automotive, Samsung Ventures, Motus Ventures and GP Capital. Since launching in 2012, Quanergy has developed a compact, low-cost, automotive grade solid state LiDAR sensor, the S3 solid state LiDAR and is aggressively working to commercialise these sensors for advanced driver assistance systems (ADAS) and autonomous d
    Read More
  • World Economic Forum: AVs face two big challenges
    July 3, 2019
    Autonomous vehicles (AVs) will not be widely adopted unless tech issues and business cases are sorted out, says an expert at the World Economic Forum (WEF). In an interview with CNBC, Michelle Avary, head of autonomous mobility at the organisation, said: “Really making sure that the technology is working in the areas of perception, which is vision — being able to identify objects and then understand how to move around them. That has yet to be solved.” Speaking at the WEF’s Annual Meeting of the New Ch
    Read More
  • Transcore challenges perceptions, targets broader markets
    December 13, 2012
    In August this year, Tracy Marks took over the presidency of TransCore, succeeding John Simler, who has moved on to other roles within parent company Roper Industries. A 19-year veteran of the company, Marks describes himself as having been groomed for the job. Previously responsible for TransCore’s Southern region in the US, he also took on a series of roles, including the top job at United Toll Systems, as part of moves which were carefully choreographed to prepare him for where he is now. The appointmen
    Read More
  • Autonomous vehicles a double-edged sword?
    June 4, 2015
    Welcome to our 20th Anniversary special edition. Over the past two decades ITS International has reported the trials and tribulations of ITS as it has progressively reduced congestion, emissions and journey times and improved road safety. Indeed many believe the sector is currently ‘living the dream’.
    Read More

Highlighted Content