Electronics

Toyota invests $69M in Japanese Uber rival backed by the taxi industry

Toyota invests $69M in Japanese Uber rival backed by the taxi industry

The partnership will use DiDi technology to raise the efficiency of taxi operators and drivers in Japan, according to the company. This partnership between DiDi and SoftBank demonstrates one such effort.

Taxi services in Japan are known for high standards of quality, but both partners believe that they can help further optimise services and increase passenger convenience. DiDi and SoftBank plan to start trial services in Osaka, Kyoto, Fukuoka, Tokyo and other locations within this year.

The link between Uber and Didi brings another wrinkle to the complicated relationship between ride-sharing firms and their investors.

Israel downs Iranian drone, strikes Iranian facilities in Syria
After the strike in Syria one Israeli F-16 went down over Israeli territory after the pilots ejected. Syrian air defenses struck more than one jet responding to the aggression , the official said.

Didi has expanded overseas rapidly in the past year since sealing its dominance in China with the purchase of Uber Technologies Inc´s local business in 2016, ending a cash-burning subsidy war that cost the US firm roughly $2 billion. In January Didi agreed to acquire control of Brazil´s 99, in a deal sources said valued 99 at over $1 billion and gave Didi a ´significant majority´ stake in the Brazilian firm.

SoftBank founder Masayoshi Son said this week that given the shifts in the auto market, car-hailing platforms "may have bigger value than the automobile itself" in the future.

The deal comes amid moves by worldwide ride-hailing companies into Japan. Line's hailing service sits inside its app - which is Japan's most popular messenger - and it has integrated with taxi operators that include Nihon Kotsu, but it is unclear how popular it is now following its 2015 launch. "The alliance, however, will also likely explore broader business opportunities with Didi's new energy vehicle sharing service, the person said without elaborating". This week it announced an electric vehicle sharing service with 12 automakers, including local partners of Ford Motor Co and the Renault-Nissan-Mitsubishi alliance.


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