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Toyota says to invest $600 million in China's Didi, new joint venture

Toyota says to invest $600 million in China's Didi, new joint venture
FILE PHOTO: A Didi Chuxing driver prepares to open the application in his car in Beijing, China August 28, 2018. REUTERS/Jason Lee   -   Copyright  Jason Lee(Reuters)
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BEIJING (Reuters) – Toyota Motor Corp said on Thursday it will invest $600 million ( £481 million ) in Didi Chuxing and a new joint venture, as part of an agreement to expand collaboration with the Chinese ride hailing giant in the country.

The Japanese carmaker also said that the new joint venture will include Toyota’s local partnership with Guangzhou Automobile Group Co Ltd (GAC).

(Reporting by Yilei Sun and Brenda Goh in Shanghai; Editing by Kim Coghill)

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