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| Establishment of a joint venture for vehicle-related services for ride-hailing drivers, and investment in DiDi and joint venture |
Toyota City, Japan, July 25, 2019 - (JCN Newswire) - Toyota Motor Corporation (Toyota) announces today that it has concluded an agreement with Didi Chuxing (DiDi) to expand collaboration in Mobility as a Service (MaaS) in China. As part of this agreement, Toyota will invest 600 million U.S. dollars (approximately 66 billion yen) in DiDi and a joint venture, which the two companies will establish with GAC Toyota Motor Co., Ltd. (GTMC) for vehicle-related services for ride-hailing drivers.
 | | Signing Ceremony
[from left to right] Stephen Zhu, Senior Vice President of Didi Chuxing; Shigeki Tomoyama, Executive Vice President of Toyota Motor Corporation |
Toyota and DiDi announced collaboration on e-Palette in January 2018, and launched vehicle-related services, including a vehicle leasing service and various services for DiDi ride-hailing drivers at a Toyota dealer in May 2018. Those cars are equipped with Toyota's in-vehicle device, TransLog, leveraging intelligent analysis capabilities of Toyota's proprietary Mobility Services Platform (MSPF) to provide quality automobile maintenance support and safe driving guidance to ride-hailing drivers.
Through this new agreement, Toyota and DiDi plan to shift to full-scale implementation of services that they have been developing in China. By creating more-efficient and high-quality ride-hailing businesses, the two companies will provide mobility service solutions that contribute to Chinese society.
The collaboration will allow Toyota and DiDi to expand the various connected services provided by MSPF in its value chain including vehicle management, maintenance, insurance, and financing for customers and drivers to realize the high potential of the MaaS market in China. Toyota also aims to introduce and promote the widespread use of battery electrified vehicles (BEVs) suitable for future mobility services in China.
Shigeki Tomoyama, Toyota Executive Vice President responsible for the connected area, said, "I am delighted that we are strengthening our collaboration, which utilizes Toyota's connected technologies and next-generation BEVs, with DiDi, China's mobility service market leader. Looking ahead, we will work with DiDi to develop services that are more attractive, safe, and secure for our customers in China."
Stephen Zhu, Senior Vice President of DiDi, said, "DiDi is committed to help our cities achieve new energy and smart transportation goals with partners from home and abroad. We look forward to combining DiDi's expertise in AI-based large-scale mobility operations and Toyota's leading connected vehicle technology to build a next-generation intelligent transportation framework for sustainable cities."
Going forward, Toyota and DiDi will contribute to the creation of a mobility society that delivers comfort and benefits to the people in China by leveraging the know-how, services, and technologies of each company.
Contact:
Public Affairs Division
Global Communications Department
Toyota Motor Corporation
Tel: +81-3-3817-9926
Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive
https://www.acnnewswire.com
From the Asia Corporate News Network
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