Didi Chuxing introduced immediately that it has obtained new funding totaling $600 million from Toyota Motor Company. As a part of the deal, the 2 corporations may even arrange a three way partnership with GAC Toyota Motor to offer vehicle-related providers to drivers on Didi’s ride-sharing platform. GAC Toyota itself is a three way partnership between Toyota and GAC Group, one in every of China’s largest automakers.
Nikkei Asian Assessment first broke information of the deal on the finish of Might, reporting that Toyota was contemplating a $550 million funding in Didi and organising a brand new mobility-services firm in China.
Didi and Toyota introduced final 12 months 2018 that it might work collectively on providers that use expertise developed by Toyota for its mobility and vehicle-sharing platform, which incorporates autonomous driving software program, a totally electrical battery and the “e-Palette,” or modules that can be utilized to construct autonomous automobiles of various sizes, starting from small ones for deliveries to passenger buses.
Toyota has additionally backed different vehicle-sharing corporations, together with Uber and JapanTaxi.
DiDi’s partnership with Toyota is one in every of a number of partnerships it has made with automotive producers and different vehicle-related corporations as a part of its D-Alliance, together with Toyota, Volkswagen, Renault-Nissan-Mitsubishi, in addition to main Chinese language automakers like FAW, Dongfeng and GAC, with the intention of increasing its attain past its ride-hailing providers by making a platform that makes use of new vitality, AI-based and mobility expertise.
Didi not too long ago introduced that it’ll open its ride-hailing platform to third-party service suppliers as a part of agreements with FAW, Dongfeng and GAC, three of China’s largest auto makers.