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

  • Argo AI AVs in Austin and Miami
    May 26, 2022
    Driverless cars will operate in Texas and Florida cities ahead of scale-up of ride-share
    Read More
  • Can AV mapping rely on crowds?
    June 29, 2021
    Mapping tech companies need to expand their data inputs beyond crowdsourcing in order to maintain temporally accurate maps at scale, says Ro Gupta at Carmera
    Read More
  • Smartphone - the next technology for charging and tolling?
    January 25, 2012
    With all the debates over the most suitable future technology or technologies for charging and tolling, is it not time for the industry to look at what the rest of ITS is doing and bring a rank outsider - the smart phone - closer into the fold? By Jack Opiola, D'Artagnan Consulting LLC
    Read More
  • Countering congestion’s cost
    May 6, 2015
    A new report on the economic costs of traffic congestion predicts the problem will worsen significantly in future. Jon Masters reviews the figures and some suggested solutions. New figures on the rising economic and environmental costs of congestion have been published by the US traffic data specialist Inrix and the UK’s Centre for Economics & Business Research (Cebr). Their report finds the problem much bigger than previously thought.
    Read More

Highlighted Content