“Didi and WeWork are routing their investments through Oyo Global (the India business) but it is primarily for China.” MUMBAI: China’s Didi Chuxing is expected to invest in Oyo Rooms, in what would be the ride-hailing giant’s second bet on an Indian startup, after Ola, two people familiar with the matter said. The proposed investment… Continue reading China’s Didi Chuxing may back Oyo
Tag: Didi
Car-sharing startup Getaround raises $300 mln in funding led by SoftBank
(Reuters) – Car-sharing startup Getaround Inc has raised about $300 million in the latest funding round led by Japan’s SoftBank Group Corp, the San Francisco-based firm said on Tuesday. Toyota Motor Corp and some other existing investors were also part of the Series D funding round, Getaround said. The company, founded in 2013, has been… Continue reading Car-sharing startup Getaround raises $300 mln in funding led by SoftBank
China’s Didi beefs up its newly-independent car services business with an acquisition
A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which the Didi spinout is called, announced today it has bought Hiservice, a three-year-old company that provides after-service care for car owners using a digital platform.… Continue reading China’s Didi beefs up its newly-independent car services business with an acquisition
Two Chinese EV sharing platforms in $730 mln push to fuel growth – sources
By Kane Wu and Julie Zhu HONG KONG: Two electric vehicle-sharing platforms backed by powerful Chinese carmakers plan to seek external funding totalling almost $730 million to fuel their growth, people with direct knowledge of the plans said. The moves come as Beijing continues its push into the new energy vehicle (NEV) sector as part… Continue reading Two Chinese EV sharing platforms in $730 mln push to fuel growth – sources
China’s Didi pumps $1B into its rebranded driver services business
Didi Chuxing is going pedal to the metal for its automobile services business after it announced it will invest $1 billion into the division, which is also getting a rebrand. The Chinese ride-hailing firm had been tipped to spin out the business and raise $1.5 billion from investors ahead of an IPO, according to a recent Reuters… Continue reading China’s Didi pumps $1B into its rebranded driver services business
China’s DiDi, Ant Financial said to consider joint $2b Ofo buyout
August 3, 2018 Chinese ride-hailing giant Didi Chuxing and Alibaba’s Ant Financial are in talks with bike-sharing startup Ofo for a joint buyout offer that could value Ofo at up to $2 billion, according to a source with direct knowledge of the discussions. A deal would mark the latest stage of consolidation in China’s once-booming bike-sharing industry, where… Continue reading China’s DiDi, Ant Financial said to consider joint $2b Ofo buyout
Magna-BAIC deal raises prospects for an ‘automotive Foxconn’ in China
July 23, 2018 In China, where the future of the car is looking more and more electric, newcomers to the auto industry are looking for partners to help them build their vehicles. Enter Canadian auto supplier Magna International which aims to spearhead a shift to contract vehicle manufacturing through its new partnership with state-owned Chinese… Continue reading Magna-BAIC deal raises prospects for an ‘automotive Foxconn’ in China
SoftBank-backed Mapbox targets ride-hailing, self-driving cars
July 20, 2018 Mapbox Inc., backed by SoftBank Group Corp., says it has a role to play in Masayoshi Son’s vision for ride-hailing and autonomous cars. The provider of mapping data for Tinder, Evernote and Facebook Inc. in October raised $164 million in a funding round led by the SoftBank Vision Fund. The infusion was… Continue reading SoftBank-backed Mapbox targets ride-hailing, self-driving cars
China’s Didi Chuxing is close to launching a taxi-booking service in Japan
Days after raising $500 million via a strategic investment from travel giant Booking Holdings, Chinese ride-hailing giant Didi Chuxing has continued its international push with the launch of a local business in Japan. Its new Japan-based unit is a joint venture with SoftBank, a longtime Didi investor, which has been in the works since an announcement back… Continue reading China’s Didi Chuxing is close to launching a taxi-booking service in Japan
UPDATE 2-Continental AG restructures, prepares Powertrain for 2019 IPO
FRANKFURT (Reuters) – German auto supplier Continental (CONG.DE) on Wednesday said it will list its Powertrain unit as early as mid-2019 as part of a broader restructuring in response to far-reaching shifts in the auto industry towards electric and self-driving technologies. FILE PHOTO: Flags of German tyre company Continental are seen before the annual news… Continue reading UPDATE 2-Continental AG restructures, prepares Powertrain for 2019 IPO