Toyota Mulling Investment in China's Didi Chuxing

Economy

Nagoya, May 29 (Jiji Press)--Toyota Motor Corp. <7203> is considering expanding its cooperation with Didi Chuxing by making an investment in the Chinese ride-hailing giant, it was learned Wednesday.

Toyota would also set up a joint venture in China with Didi Chuxing, aiming to enhance the foundation of its new business in China, the world's largest automobile market.

The Japanese automaker's total investments are seen reaching 60 billion yen.

The new joint venture would buy vehicles from Toyota and lease them to drivers who use Didi Chuxing's services. Toyota dealers would provide maintenance.

In the future, the use of electric vehicles, which are attracting strong demand in China, will be considered.

[Copyright The Jiji Press, Ltd.]

Jiji Press