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

  • Changing roles in data collection for traffic management
    January 23, 2012
    Transport for Greater Manchester's David Hytch discusses the evolving roles of the public and private sector in managing and disseminating data. Data services for traffic management were once the sole preserve of public sector organisations, they being uniquely placed and equipped for the work involved. Now, though, this is changing. There is even a presumption in some countries that the private sector will take a greater, if not actually a lead, role in the provision of information for transport management
    Read More
  • After two decades of research, ITS is getting into its stride
    June 4, 2015
    Colin Sowman gets the global view on how ITS has shaped the way we travel today and what will shape the way we travel tomorrow. Over the past two decades the scope and spread of intelligent transport systems has grown and diversified to encompass all modes of travel while at the same time integrating and consolidating. Two decades ago the idea of detecting cyclists or pedestrians may have been considered impossible and why would you want to do that anyway? Today cyclists can account for a significant propor
    Read More
  • Solving Detroit’s jams: just ask a Michigan student
    October 17, 2019
    At the Institute of Transportation Engineers annual meeting, a clever student plan to reduce commute times in Detroit suggests the future of the ITS industry is in good hands, write Pete Spiller and Jarrod Cady A team of students from the University of Michigan won a national student Transportation Technology Tournament - sponsored by the National Operations Center of Excellence (NOCoE) and the US Department of Transportation - with a compelling presentation on reducing congestion. In an impressive d
    Read More
  • Autonomous truck platooning moves up a gear with NXP and DAF Trucks
    November 25, 2016
    NXP Semiconductors is setting the pace in truck platooning with full-size commercial vehicles that can run at 80kmph only 11 metres apart, offering up to 11 per cent in fuel savings. The Dutch technology company believes that “there’s no better place than truck platooning to demonstrate the merits of autonomous driving.” Its research team has been working with DAF Trucks to develop leading edge technology that can make driving decisions ‘30 times faster than human reaction time’. NXP says that adapt
    Read More

Highlighted Content