Japan’s SoftBank Group has approached Didi Chuxing Technology Co. about investing roughly US$6 billion in the Chinese ride-hailing firm, the Wall Street Journal reports, citing people familiar with the matter.
The investment, most of which is likely to come from SoftBank’s planned US$100 billion Vision Fund, could help the Chinese firm expand in self-driving car technologies, the report said.
Didi became China’s ride-hailing champion after it merged with rival Uber Technologies’ China operations last year.
SoftBank had earlier led a US$600 million financing round in Kuaidi Dache in 2015, which later merged with Didi.
Through the Vision Fund, SoftBank CEO Masayoshi Son hopes to target multimillion-dollar investments in areas such as autonomous driving and artificial intelligence, the Journal said.
Didi was valued at about US$36 billion after the Uber China merger. As part of the deal, Uber became the largest shareholder in Didi.
– Contact us at [email protected]