Toyota Considering Investing in Ride-Sharing Company

May 31, 2019
Toyota is considering a $550 million investment in China's largest ride-hailing company.

May 31, 2019—Toyota is considering a $550 million investment in China's largest ride-hailing company, reported Dallas Business Journal.

The investment would be about $550 million. Toyota is looking for ways to further collaborate with Didi.

Toyota is part of a group Didi created to integrate electric vehicles into ride-sharing, a conglomeration that is expected to require cars to lease to Didi drivers, according to the report.

Toyota announced last month that it was teaming up with DENSO Corp. and SoftBank Vision Fund for an additional investment earmarked for Uber Advanced Technologies Group. Uber and DENSO together were expected to invest $667 million, while SoftBank would invest $333 million.

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