Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. CATL and Didi said on Jan. 28 that they have signed a partnership to build battery swap stations for commercial fleets to recharge their electric vehicles, in a sign of China’s urgent need… Continue reading CATL, Didi to build battery swap facilities for ride-hailing cars
Author: TechNode Online News
GAC’s $75 million investment in Didi set to boost EV sales, autonomous driving: expert
Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Chinese carmaker Guangzhou Automobile Group (GAC) is strengthening its alliance with ride-hailing platform Didi, investing up to $75 million into the latter’s autonomous driving unit. The move is expected to help GAC enhance… Continue reading GAC’s $75 million investment in Didi set to boost EV sales, autonomous driving: expert
China’s Didi sets new target for ride-hailing as crackdown ends: report
Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. China’s Didi has recently set new growth targets in the three years to 2025, with new incentives for drivers and riders, in its latest move to recapture lost market share in the country’s… Continue reading China’s Didi sets new target for ride-hailing as crackdown ends: report
Drive I/O | Shanghai automakers hit by lockdowns, China’s new push for driverless cars
Top automakers such as Tesla and SAIC (Volkswagen’s partner in China) are slowly rolling towards a restart after weeks of shutdowns of their plants in Shanghai, China’s worst coronavirus outbreak site, in two years. Baidu and self-driving unicorn Pony.ai received permits to offer fully autonomous rides to the Beijing public in late April, the first… Continue reading Drive I/O | Shanghai automakers hit by lockdowns, China’s new push for driverless cars
Didi said cybersecurity review completion a “prerequisite” for new listing
On Wednesday, China’s ride-hailing giant Didi urged US investors to vote yes on delisting its shares from New York. Didi said it can’t pursue a new listing as it faces a cybersecurity review launched last July by Chinese regulators, which still has no clear end in sight. Why it matters: The company said in a… Continue reading Didi said cybersecurity review completion a “prerequisite” for new listing
Drive I/O | Chinese EV makers face price hikes as nickel prices soar, Didi to enter EV market
Nickel prices climbed to an all-time high and could further increase the cost of electric vehicles (EV) and force automakers to cut earnings forecasts. Ride-hailing giant Didi became the latest Chinese tech company to enter consumer EV space; it plans to deliver an entry-level sedan next year. Shares of Nio closed flat in the company’s… Continue reading Drive I/O | Chinese EV makers face price hikes as nickel prices soar, Didi to enter EV market
Chinese ride-hailer T3 reportedly raises $775 million while Didi mired in cybersecurity review
Chinese ride-hailing platform T3 is close to securing RMB 5 billion ($775 million) in a funding rounding led by state-owned financial conglomerate Citic Group, Chinese media LatePost (in Chinese) reported Thursday, citing three unnamed sources. Why it matters: Didi’s rivals, especially those funded by state-owned enterprises, have received a new wave of investment since the… Continue reading Chinese ride-hailer T3 reportedly raises $775 million while Didi mired in cybersecurity review
Didi may face new antitrust probe ahead of US IPO: Reuters
China’s market regulator is investigating Didi on whether it violated antitrust rules, Reuters reported Wednesday night. Didi called the report “unsubstantiated speculation.” Why it matters: The probe report comes less than a week after the ride-hailing giant filed for a US IPO on Thursday. It remains to be seen whether the news will affect the… Continue reading Didi may face new antitrust probe ahead of US IPO: Reuters
Chinese ride-hailing giant Didi files for US IPO
Chinese ride-hailing platform Didi filed for an initial public offering on Thursday. The company plans to trade on either the New York Stock Exchange or Nasdaq. Why it matters: Valued at $62 billion, Didi is among the world’s five highest-valued unicorns. The company’s listing could be one of the biggest IPO this year. The Beijing-based… Continue reading Chinese ride-hailing giant Didi files for US IPO
Didi raises $1 billion in push for 100 million daily trips
Chinese ride-hailing platform Didi Chuxing has reportedly secured a $1 billion round of fresh funding for its bike rental business Qingju, as the company seeks to diversify growth in the Chinese mobility market with a target of 100 million daily trips for the next three years. People familiar with the deal told LatePost (in Chinese)… Continue reading Didi raises $1 billion in push for 100 million daily trips