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

  • Spin: work with cities to optimise micromobility
    September 15, 2020
    E-scooter providers must form close partnerships with local governments to create a successful operating environment which the public will accept and embrace, says Spin
    Read More
  • Integrated transport network proposed for Montréal
    April 25, 2016
    DPQ Infra, a subsidiary of Caisse de dépôt et placement du Québec, has unveiled for its Réseau électrique métropolitain (REM), an integrated public transportation project. Under the proposal, the REM will link downtown Montréal, the South Shore, the West Island (Sainte-Anne-de-Bellevue), the North Shore (Deux-Montagnes) and the airport in a unified, fully automated, 67km light rail transit (LRT) system comprising 24 stations and operating 20 hours a day, 7 days a week. The solution proposed by CDPQ Infra wi
    Read More
  • Changing perceptions and going green with ITS
    May 26, 2022
    Entrants to the ITS (UK) Essay Award were asked to write about innovative application of ITS solutions to achieve decarbonisation goals. First-year apprentice Leora Wilson, who studies at Leeds College of Building as part of her apprenticeship with Mott MacDonald, won the competition with this entry…
    Read More
  • Oxa & Beep deliver AV services in Florida
    February 29, 2024
    Shuttles are part of Ultimate Urban Circulator Project which includes monorail expansion
    Read More

Highlighted Content