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

  • Crash course in workzone safety
    April 26, 2021
    A vehicle crashing through a workzone is an ever-present risk. As US National Work Zone Awareness Week approaches, Alan Dron asks what chance there is of improving the situation
    Read More
  • Monitoring and transparency preserve enforcement's reputation
    July 30, 2012
    What can be done to preserve automated enforcement's reputation in the face of media and public criticism? Here, system manufacturers and suppliers talk about what they think are the most appropriate business models. Recent events in Italy only served to once again to push automated enforcement into the media spotlight. At the heart of the matter were the numerous alleged instances of local authorities and their contract suppliers of enforcement services colluding to illegally shorten amber signal phase tim
    Read More
  • US updates ITS strategy for Connected Vehicle deployment
    March 16, 2015
    Jon Masters looks at the USDOT’s new ITS Strategic Plan for the next five years. Emphasis and direction for the next five years of Government led ITS research in the United States has been framed within a new ITS Strategic Plan. The US Department for Transportation’s (USDOT) ITS Joint Program Office (JPO) published the report at the tail end of 2014 after concluding a two-year ITS industry consultation process. The Plan identifies a vision to transform the way society moves and the ITS JPO’s aim of advancin
    Read More
  • TfL trials cyclist detection
    June 5, 2015
    New world first trials would allow TfL to better cater for cyclists at key junctions Further on-street trials will take place later this year TfL now given blanket approval from DfT to install low-level cycle signals at junctions Transport for London (TfL) is to trial a new technology that will help give cyclists more time on green lights.
    Read More

Highlighted Content