Toyota is reportedly considering a large investment in Chinese ride-hail giant Didi.
The Nikkei reported that the company is considering a 60 billion yen (USD550m) investment in Didi Chuxing.
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The report also said that Toyota is planning to create a new mobility services company in China.
The latest news is another sign that Toyota is looking to ramp-up its presence in future mobility fields, in part a reaction to perceptions that it has for too long been a conservative company lagging behind others in embracing new models for mobility and business.
Last month Toyota, Denso and SoftBank announced they will invest US$1bn billion in Uber Technologies Inc.’s Advanced Technologies Group (Uber ATG). The investment, in a newly formed ATG corporate entity, aims to accelerate the development and commercialisation of automated ridesharing services.
Toyota also invested $500m in Uber in August 2018, when the two companies announced their intention to bring pilot-scale deployments of automated Toyota Sienna-based ride-hail vehicles to the Uber ride-hail network in 2021, leveraging the strengths of Uber ATG’s self-driving technology alongside the Toyota Guardian advanced safety support system.
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By GlobalData
