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

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.

Reuters May 29, 2019 07:05:38 IST
Toyota may invest about $550 million in China ride-hailing firm Didi - Nikkei

Toyota may invest about 550 million in China ridehailing firm Didi  Nikkei

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)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Gold rebounds as U.S. non-farm payrolls fall short of expectations
Business

Gold rebounds as U.S. non-farm payrolls fall short of expectations

By Sumita Layek (Reuters) - Gold rebounded from a more than two-week low on Friday after U.S. nonfarm payrolls did not rise as much as expected, although bullion was still on course to register its biggest weekly decline since March

Euro zone retail sales fall more than expected in April
Business

Euro zone retail sales fall more than expected in April

BRUSSELS (Reuters) - Euro zone retail sales fell more than expected in April, dragged down by a decline in sales of non-food products, but were still much higher than 12 months earlier when most countries were under strict pandemic lockdowns, data showed on Friday. The European Union's statistics office Eurostat said retail sales in the 19 countries sharing the euro fell 3.1% month-on-month in April but were 23.9% higher than a year earlier

U.S. leisure and hospitality pay surges to a record. Now will workers come?
Business

U.S. leisure and hospitality pay surges to a record. Now will workers come?

By Jonnelle Marte and Ann Saphir (Reuters) - Hotels, restaurants and other businesses are boosting pay as they try to rebuild their staffs and meet increasing demand from Americans ready to venture out as pandemic-related restrictions are lifted and more people are vaccinated.