Wednesday , August 21 2019

Toyota invests $600m in China’s Didi

Bloomberg

Toyota Motor Corp will inject $600 million into Didi Chuxing and help the Chinese company set up a car fleet management venture, bankrolling the loss-making ride-hailing giant’s expansion.
The Japanese auto-maker will work with Didi to provide services including rental and car maintenance.
Toyota will use its connected-car technology and intelligent analysis to help bolster Didi’s business, the partners said in a statement.
Toyota is investing in a company that has endured a series of setbacks over the past year.

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