Japan’s Toyota Motor has agreed to invest $600 million in China’s Didi Chuxing as part of a deal to supply cars and share research.
Toyota and Didi will set up a joint venture to provide vehicle-related services for ride-hailing drivers on Didi’s network, they said in a statement on Thursday. The JV will include GAC Toyota Motor, a joint venture between GAC Group and Toyota Motor in China.
“We look forward to combining Didi’s expertise in AI-based large-scale mobility operations and Toyota’s leading connected vehicle technology to build a next-generation intelligent transportation framework for sustainable cities,” said Stephen Zhu, senior vice president of Didi.
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