Home: Motoring > Toyota and Didi to build a JV/ BAIC & Magna teamed up

China Auto Trending Hashtag| Toyota and Didi to build a JV/ BAIC & Magna teamed up

From:Internet Info Agency 2019-07-26 17:48:51

 1. Toyota and Didi will form a joint venture, investing 600m dollars

On July 25, Toyota Motor announced that it will invest in Didi, with a total investment of 600 million U.S. dollars. Some of the funds will be used to establish a joint venture with GAC Toyota to provide related services for Didi’s drivers.

In June 2018, Toyota invested $1 billion in Grab in Singapore; in August 2018, Toyota invested $500 million in Uber.

In response to Toyota's investment, Toyota said it will work with Didi to develop a mobile travel service that is popular and safe for Chinese consumers. Zhu Jingshi, senior vice president of Didi Chuxing, said that the two parties will combine the scale operation experience of DIDI intelligent travel network with Toyota's leading automotive interconnection technology to build a new generation of smart transportation technology architecture and promote the sustainable development of the city.

2. BAIC/Magna teamed up to build a premium new energy manufacturing base

Recently, BAIC Group and Magna officially signed the agreement on BAIC Magna premium new energy vehicle manufacturing base. It is reported that BAIC Group and Magna will jointly build a premium new energy vehicle R&D and manufacturing base in Zhenjiang, and the premium new energy brand ARCFOX of BAIC Group will also be put into operation at this base.

In fact, as early as January of this year, BAIC BJEV and Magna of BAIC Group jointly established Magna Weilan New Energy Vehicle Technology (Zhenjiang) Co., Ltd. in Zhenjiang. With the construction of BAIC Magna premium new energy vehicle manufacturing base, BAIC Zhenjiang base will have the ability to develop and manufacture premium new energy vehicles.

According to the news on the official website of the Zhenjiang Municipal People's Government, the BAIC Zhenjiang base will start production of the BAIC BJEV premium brand ARCFOX in 2020.

Editor:Internet Info Agency