Get all your news in one place.
100's of premium titles.
One app.
Start reading
Reuters
Reuters
Business

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

FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy

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.

"We continue to evaluate our business strategy from a global perspective in areas of Connectivity, Autonomous, Sharing and Electrification to meet the future needs of our customers," Toyota spokesman Kensuke Ko said by phone.

FILE PHOTO: Logo of Didi Chuxing is seen at its headquarters building in Beijing, China August 28, 2018. REUTERS/Jason Lee

"However, we have nothing to announce at this time."

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)

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.