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.

Related Content

  • June 5, 2015
    Mega trends will challenge transport technology
    Jon Masters investigates some of the longer term trends that will shape transportation over the next 20 years. Business analysts and investors have already placed their bets on a future of technological smart mobility services. In December last year, the Wall Street Journal reported that Uber, the on-demand taxi and lift share smartphone app and start-up business, had been valued at $41.2 billion which, as the Journal reported, is an incredible vote of confidence for a company only five years old.
    Read More
  • February 1, 2012
    Advanced in-vehicle user interface - future developments
    Dave McNamara and Craig Simonds, Autotechinsider LLC, look at human-machine interface development out to 2015. The US auto industry is going through the worst crisis it has faced since the Great Depression. But it has embraced technologies that will produce the best-possible driving experience for the public. Ford was the first OEM to announce in-car internet radio and SYNC, its signature-branded User Interface (UI), is held up as the shining example of change embracement.
    Read More
  • August 11, 2016
    Tesla crash in China puts autonomous cars in the spotlight again
    Tesla is investigating the crash in Beijing, China last week, when a Tesla Model S in autopilot mode hit the side of a parked car. According to Reuters, Tesla said it had reviewed data to confirm the car was in autopilot mode, a system that takes control of steering and braking in certain conditions. Tesla also said it was the driver's responsibility to maintain control of the vehicle. In this case, it said, the driver's hands were not detected on the steering wheel. "The driver of the Tesla, whose h
    Read More
  • July 21, 2020
    Cohda Wireless: 'New York has the best urban canyons'
    Dr Paul Alexander, chief technical officer of Cohda Wireless, talks to Adam Hill about DSRC versus C-V2X, global connected vehicle take-up, the uses of WiFi – and, of course, seeing round the Big Apple's buildings...
    Read More

Highlighted Content