Apple granted board seat at Didi Chuxing after $1B investment, report says
According to a recently released regulatory filing, Apple received a seat on Chinese ride-hailing service Didi Chuxing's board of directors shortly after investing $1 billion in the company.
Citing the filing and sources familiar with the matter, The Information reports Apple mergers and acquisitions chief Adrian Perico represents the company on Didi's board a few weeks after the $1 billion investment went through in May. The appointment is contrary to news reports at the time which said Apple had not received such an appointment.
Perico's presence on Didi's board illustrates the importance of Apple's investment in the Chinese firm. The inside position might pave the way for future strategic partnerships, the most obvious being work on self-driving vehicle technology rumored to be in development at Apple. Didi's fleet of cars would serve as an ideal test platform for integration, for example.
Apple's investment in Didi is seen as an endorsement that reaches far beyond potential internal projects. Reports earlier this year claimed Apple's investment accelerated Uber's decision to exit the Chinese market, ending a long and costly turf war with Didi. In July, Uber China agreed to be bought out by Didi for $1 billion in a deal that gives parent company Uber Technologies a one-fifth stake in its Chinese competitor.
Citing the filing and sources familiar with the matter, The Information reports Apple mergers and acquisitions chief Adrian Perico represents the company on Didi's board a few weeks after the $1 billion investment went through in May. The appointment is contrary to news reports at the time which said Apple had not received such an appointment.
Perico's presence on Didi's board illustrates the importance of Apple's investment in the Chinese firm. The inside position might pave the way for future strategic partnerships, the most obvious being work on self-driving vehicle technology rumored to be in development at Apple. Didi's fleet of cars would serve as an ideal test platform for integration, for example.
Apple's investment in Didi is seen as an endorsement that reaches far beyond potential internal projects. Reports earlier this year claimed Apple's investment accelerated Uber's decision to exit the Chinese market, ending a long and costly turf war with Didi. In July, Uber China agreed to be bought out by Didi for $1 billion in a deal that gives parent company Uber Technologies a one-fifth stake in its Chinese competitor.
Comments
The average medallion in NYC costs half a million dollars today: they could buy 2,000 medallions for $1B, which would be 15% of all yellow cabs in NYC. That would lots and lots of data and driving conditions in a very impressive test facility.
does those people expect the technology of self-driving apply to China has ever visit China or even had drive there?
Do they know how many people in China earn their living from being a driver?
The red government won't let it happens, even if they really want it, American company (or significant share holds)?Noway!
Let Xiaomi, Alibaba or someone else first, someone copy or steal the technology first...
If self-driving tech unable to handle the traffic in northern Europe or even downtown LA,
then if Apple put that vehicle in Shanghai or Beijing , it will stuck in the middle of the road till dawn.
I belived that Apple has its own master plan behind the investment, but not self-driving, may be "man-driving" iCar for the fleet of the comapny?
As far as I know right now Apple is the only US-based company that is being allowed to have a mobile mapping product in China.
Attempting to create as solid a foundation as can be created and maintained in China is a very smart move.
not the same factors some of our resident critics use. they seem to have a, shall we say...irrational dislike...for the acquisition. since its not based on business factors we can only speculate as to why they resented the Beats deal so much. I'm going to say it has something to do w/ Dr. Dre and rap.
and then you'd have to manage those 2,000 medallions and deal with cabbies and cabbie bureaus and outfit the cars and telegraph your intentions and deal with a bunch of crap. seems easier to write a check as an investor and simply get access to the data.