Apple invests $1bn in Didi Chuxing, China's Uber rival

Jemima Kiss in San Francisco

from Technology | The Guardian on 2016-05-13 04:42 (#1DK10)

Tim Cook says investment - single largest ever in Chinese ride-hailing service - allows Apple to learn more about the market there

Apple has invested $1bn in Didi Chuxing, China's version of Uber, CEO Tim Cook said on Thursday.

Ahead of a high-profile visit to the country later in May, Cook told Reuters that the investment would create opportunities to partner with Didi - fuelling speculation that Apple is making a strategic investment that complements its own plans for a new electric car.

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