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

  • C/AVs could mean cheaper roads
    October 28, 2019
    The safety benefits of C/AVs have long been promoted – but research suggests they should also contribute to cheaper roads. David Crawford investigates the potential benefits in infrastructure costs Building narrower freeway lanes to accommodate the enhanced route-tracking capabilities of connected and autonomous vehicles (C/AVs), running in platoon conditions, could result in cost savings of £0.5 million (€0.56 million or US$6.5 million) for every km of road length built. Such benefits could be secur
    Read More
  • Report urges US$25 billion transport improvement plan
    August 6, 2014
    The One North report, produced by the city regions of Leeds, Liverpool, Manchester, Newcastle and Sheffield in the UK, puts forward a strategic proposition for transport in the north of the country. The US$16.8-US$25.2 billion plan urges major changes in connectivity and capacity between the northern cities over the next 15 years and proposes optimisation of strategic highway capacity, a new high speed trans-Pennine rail route and improved city region rail networks interconnected with HS2 services, new inte
    Read More
  • Benefits of traffic data sharing with app developers
    November 10, 2015
    Timothy Compston finds out if exchanging traffic and road condition data with private app developers makes sense for both drivers and road authorities. Much has been said about the potential benefits for authorities in sharing data with traffic and navigation app developers, and receiving ‘crowdsourced’ information in return – so how is it working in practice?
    Read More
  • Reducing congestion with Tomtom's historical traffic data
    December 5, 2012
    Historical traffic data provided by TomTom is being used by the local government in Spain’s Basque region to reduce road congestion at less cost. Old habits die hard. Photos from as far back as the 1930s show people counting cars by the roadside in order to provide congestion data to those running road networks. Today, such techniques are still used, albeit augmented by a range of automation technologies such as inductive loops, infra-red sensors and number plate recognition. Even with these advances, howe
    Read More

Highlighted Content