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

  • Hamburg’s on-demand alternative to commuting by car
    December 5, 2017
    As Hamburg is confirmed as the host for the 2021 ITS World Congress, David Crawford looks at the city’s moves towards enabling MaaS-type operations. Germany’s second-largest city, Hamburg, is pinning its civic reputation on having its promised all-electric, on-demand, shuttle bus ridesharing service up and running by 2018. Partners in the three-year project are regional metro and bus service provider Hamburger Hochbahn and Volkswagen Group’s Berlinbased mobility innovation subsidiary Moia, which was set
    Read More
  • Didi and CSPG to develop EV charging in China
    July 10, 2019
    Didi Chuxing has joined forces with China Southern Power Grid (CSPG) to develop on-demand electric vehicle (EV) charging and automobile services across South and Southwest China. Didi, a ride-hailing firm, says the deal will allow its app users to access CSPG charging spots. CSPG has more than 100,000 charging points across China's southern regions of Guangdong, Guangxi, Yunnan, Guizhou and Hainan, including the Guangdong-Hong Kong-Macao Greater Bay area.
    Read More
  • Emissions reductions targets to have major impact on transport
    October 28, 2015
    As bold moves aimed at reducing greenhouse gas emissions have been introduced in California, David Crawford looks at the ramifications for transportation. California Governor Jerry Brown’s recent dramatic raising of the bar on emissions reduction policy for the state has won him praise from Japan, Australia, Europe and the secretariat of the critical UN conference on climate change being held in Paris in November/December 2015. His April 2015 executive order aimed at bringing emissions to 40% below 1990 lev
    Read More
  • IBTTA, ITS America applaud long term FAST Act
    December 2, 2015
    The International Bridge, Toll and Turnpike Association (IBTTA) and ITS America have applauded Congressional committee members on reaching agreement on a long-term surface transportation bill.
    Read More

Highlighted Content