Toyota may invest about $550 million in China ride-hailing firm Didi: Nikkei

May 29, 2019

TOKYO (Reuters) – Toyota Motor Corp is considering investing about 60 billion yen ($550 million) in Chinese ride-hailing giant Didi Chuxing, the Nikkei business daily reported on Wednesday.

Japan’s top automaker was also looking to set up a new mobility-services company in China, the Nikkei said.

Toyota has made large investments in other ride-hailing firms such as Uber and Grab as traditional automakers race to team up with disruptive tech companies.

(Reporting by Chang-Ran Kim; Editing by Stephen Coates)

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