Chinese language ride-hailing big DiDi International will swap money plus its good driving and cockpit unit for 16.5% of AutoAi, a subsidiary of state-backed maps agency NavInfo, the latter mentioned in a inventory trade submitting on Wednesday.
DiDi Sensible Transportation Expertise will make up 87% of AutoAi’s plan to spice up its registered capital by 27.45 million yuan ($3.85 million), with NavInfo contributing the rest, confirmed the submitting with the Shenzhen Inventory Alternate.
DiDi will turn into the second-largest shareholder of AutoAi, a supplier of clever cockpits-related software program and {hardware}. NavInfo would be the greatest shareholder with 27%.
The deal, which confirms a Reuters report on Monday, values the DiDi subsidiary at 450 million yuan, the submitting confirmed.
DiDi expects the deal will assist it pull again considerably from electrical car (EV) manufacturing the place automakers compete fiercely in a consolidating market, sources have mentioned.
The journey hailer offered its EV growth enterprise, comprising the vast majority of its EV-related property, to Xpeng in 2023 in a deal value $744 million, in trade for a roughly 3.25% stake within the automaker.
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($1 = 7.1312 Chinese language yuan renminbi)