Toyota Motor 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.
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 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. 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."
Didi has endured a series of setbacks over the past year. Government curbs have severely hampered its car supply, and the murder of two female passengers triggered the suspension of some of its most lucrative businesses. Still, Didi is keen on expanding into Latin America, while exploring new avenues in vehicle financing and car maintenance.
Didi has also set up ventures with Volkswagen AG, BYD and BAIC’ new-energy vehicle unit.