Toyota to Plow $600 Million Into Didi Partnership

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By Tianyu M. Fang / Jul 25, 2019 02:23 PM / Business & Tech

Photo: VCG

Toyota will invest a combined $600 million into Chinese ride-hailing platform Didi Chuxing and a joint venture with Didi and automaker GAC Group to develop vehicle-related services for ride-hailing drivers, the Japanese carmaker announced Thursday.

The collaboration will allow Toyota and Didi to expand a raft of connected services, including vehicle management, maintenance, insurance, and financing for customers and drivers, Toyota said in the press release, adding that the company will also use the partnership to promote the use of battery-electrified vehicles (BEVs) in future mobility services.

The move deepens a relationship between Toyota and Didi that dates to January 2018, when the two companies joined forces to develop the e-Palette, Toyota’s fully automated, battery-powered electric vehicle. The partnership also allowed drivers working on Didi’s ride-hailing platform to access vehicle-leasing services and Toyota’s in-vehicle telematics service, TransLog.

Didi has previously partnered with a number of carmakers in an effort to expand the so-called D-Alliance, through which it hopes to integrate the automobile supply chain into its flagship transportation service.

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