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

  • Taking stellar prospective
    December 19, 2013
    Astronauts report that the sensation of seeing the Earth from space is extremely humbling; revealing both the wonder of our world and its fragility with a level of clarity they have never experienced before, or after. From space everything the Astronaut has ever known is but a small green and blue blob that can be masked by the smallest obstruction. And from that distance all the countries in the world are equally far away and their inhabitants cannot be divided into rich or poor, by religion or colour.
    Read More
  • Global navigation reference point to test zero emission driverless vehicles
    December 4, 2014
    A successful consortium led by the UK’s Transport research Laboratory (TRL) has been selected by Innovate UK to deliver the GATEway project (Greenwich Automated Transport Environment), one of three projects awarded to test driverless vehicles in UK urban locations. The US$12.5 million project will see three trials of different types of zero emission automated vehicles within an innovative, technology-agnostic testing environment set in the Royal Borough of Greenwich. The ‘prime meridian’ was establi
    Read More
  • US drivers turning to alternative fuel vehicles says research
    December 19, 2012
    Increasing numbers of US customers are turning to alternative fuel vehicles, according to the latest research from Mintel, which shows that sales are up 73%, with nearly 440,000 hybrid, plug-in hybrid, and electrics sold thus far this year. The rapid sales growth in hybrid and electric vehicles makes the segment the fastest growing in the US for 2012, supplanting the still fast growing, compact car vehicle segment. The number of plug-in and electric models available to the public has nearly quadrupled over
    Read More
  • Lidar: beginning to see the light
    March 14, 2022
    Lidar feels like a technology whose time has come – but why now? Adam Hill talks to manufacturers, vendors and system integrators in the sector to assess the state of play and to find out what comes next
    Read More

Highlighted Content