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Toyota Pumps In $600 Million In Didi Hinting At A New Joint Venture

Toyota has spent $600 Million in Didi Chuxing (the Chinese car-hailing platform) as a fraction of an extended Mobility-as-a-Service partnership deal that the 2 firms have in place in China. Below the agreement, Didi and Toyota will also make an entry into a partnership with GAC Toyota Motor—an organization between China’s GAC Group and Toyota—to offer vehicle-based services for Didi’s driver’s network.

“Didi is pledged to assist our areas to attain new smart transportation and energy goals with associates from abroad and home,” claimed Stephen Zhu, senior vice president at Didi, to the media. “We are looking forward to combine Toyota’s leading connected vehicle tech and Didi’s expertise in large-scale AI-supported mobility processes to develop a next-gen intelligent transportation structure for sustainable areas.”

At the beginning of 2018, Didi and Toyota worked together on e-Palette, a completely-automated battery EV. They have also piloted vehicle-based services for Didi’s drivers via intelligent analysis abilities of Toyota’s mobile services platform to offer drivers with vehicle maintenance support and safe driving guidance.

Toyota spent a hefty $500 Million in Uber previous August to mutually design self-driving vehicle techs as a fraction of a broader association between the 2 firms.

Previously this year, Didi, which controls almost 80% of the ride-sharing sector in China, declared it might slash almost 2,000 employees or 15% of its whole labor force in 2019.

On a related note, Toyota earlier claimed that it is getting into the semiconductor segment, joining hands with auto provider Denso to create a new firm aimed at chip production.

The target is to make next-gen semiconductors for employment in the automotive sector and in self-driving vehicles specifically. Media reports that this comprises elements such as “periphery monitoring sensors for automated cars and power modules for EVs.” The new firm will be controlled by the 2 firms, with Denso having 51% and Toyota having 49%.