China's Xpeng buys Ride Hailing Giant Didi’s Smart EV Assets for $744M
![China's Xpeng buys Ride Hailing Giant Didi’s Smart EV Assets for $744M](https://d3wo5wojvuv7l.cloudfront.net/t_square_limited_480/images.spreaker.com/original/1530d0e642b06517a9893769a9381458.jpg)
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Description
Chinese electric vehicle upstart Xpeng is acquiring the smart EV assets of ride-hailing giant Didi for $744 million, marking another significant alliance that the Tesla challenger has struck in recent...
show moreDidi says the duo is forming a strategic partnership to “promote the global application of smart electric vehicles and technologies.”
The Didi assets will become a new sub-brand called “Mona” under Xpeng, which is scheduled to launch in 2024.
The partnership also extends to areas including marketing, financial insurance services, charging and international expansion.
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Author | Africa Business Radio |
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