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

  • Columbia brings the noise to VRUs
    May 7, 2020
    ‘Twalking’ – the practice of staring at a smartphone screen while walking – may be a matter for wry amusement for the non-addicted, but is potentially hazardous to the phone users. A US research project may have found a solution, finds Alan Dron
    Read More
  • Reports says Apple iOS too late and too limited
    July 24, 2013
    According to Frost and Sullivan, Apple’s new iOS 7 for the automotive industry is too late and too limited for the automotive market. The device has notable changes to the interface and improved voice capabilities of personal assistant SIRI. Auto OEMs however, with their respective partners have moved many a mile without the need for Apple’s involvement. The announcement may be seen as a phased approach after last year’s announcement of SIRI EyesFree by Apple at WWDC. “If compared to other players, such as
    Read More
  • Enforcement needs automation and communication
    February 1, 2012
    TISPOL's Peter van de Beek questions whether the thought processes which drive enforcement technology development are always the right ones. Peter van de Beek sees an ever-greater role for technology in traffic enforcement but is concerned that the emphasis of technological development and discussion is not always in the right places. 'Old-fashioned' face-to-face policing remains as valid as it ever did, he feels, but adds that there should be greater communication with those engaged at the sharp end of saf
    Read More
  • Heavy weather: how ITS can mitigate climate change effects
    August 22, 2023
    Countries, regions and cities all over the world are seeing unprecedented extreme weather events causing destruction in different ways: from heat and wildfires to snow and floods and much else in between. Jon Tarleton of Baron Weather explains how the ITS industry can help the transportation network to remain efficient as the climate changes
    Read More

Highlighted Content