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

A user holding a smartphone with a Didi Chuxing app.
Zhang Peng | LightRocket | Getty Images

Toyota Motor 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.

"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.

Next Article
Key Points
  • The International Air Transport Association expects it could take until August before the Boeing 737 Max returns to service, the airline group's head said.
  • The IATA added that the final say on the timing rested with regulators.
  • The 737 Max was grounded globally in March after a crash in Ethiopia killed all 157 people on board, the model's second deadly crash in five months.