Apple puts on $1 billion in Chinese ride-hailing company Didi Chuxing


Beijing. America’s leading technology company Apple has invested one billion dollar in a Chinese ride-hailing service Didi Chuxing that would help the company to understand the Chinese market in a better way.

Apple’s Chief Executive Tim Cook said in an interview, “I see opportunities for Apple and Didi Chuxing to collaborate in the future.”

"We are making the investment for a number of strategic reasons, including an opportunity to learn more about certain segments of the China market," Cook told Reuters. "Of course, we believe it will deliver a strong return for our invested capital over time as well."

According to the China’s official newspaper ‘China Daily’, this investment is seen significant because Didi is a competitor of America app based taxi service Uber.

The reports say that Apple has become strategic investor of Didi and it has been included in the line of Tensent and Alibaba. Didi CEO and Founder Wei Cheng said, “Apple’s investment is a big incentive for our four-year-old company.