Apple Given Didi Chuxing Board Seat Following $1 Billion Investment

Shortly after making a $1 billion investment in Chinese ride-hailing company Didi Chuxing, Apple was given a seat on the board, reports The Information. News originally suggested Apple had not received a board seat as part of the deal, but regulatory filings suggest a board appointment happened late in June.

Tim-Cook-Beijing-Didi-Chuxing

Tim Cook with Didi Chuxing president Jean Liu

The board appointment occurred in late June, according to a regulatory filing. It reinforces the gravity of Apple's investment, which influenced Uber's decision to sell its China operations to Didi at the end of July. Didi had a large lead in market share but Uber hoped Didi wouldn't be able to keep raising capital. The Apple investment, while not the deciding factor, was personally disappointing to Uber CEO Travis Kalanick, say people who know him.

Adrian Perica, Apple's head of mergers and acquisitions, represents Apple on the board. A former Goldman Sachs investment banker, Perica has been with Apple since 2009 and has handled key acquisitions like Beats.

Known as the "Uber of China," Didi Chuxing is the most popular ride sharing service in China. Apple's May 2016 investment in the company came amid rumors Apple is developing its own electric car and was instrumental in helping Didi Chuxing acquire Uber's Chinese operations in a $35 billion deal at the end of July.

Apple's $1 billion investment in Didi Chuxing was a first for the company, but it does provide Apple with access to data and expertise on both electric an autonomous car technology, something that will undoubtedly come in handy as the company works to develop its own car product.

Apple's "Project Titan" effort, described as an "open secret" by Tesla CEO Elon Musk, is Apple's car-building project. Apple is said to have a secret facility in Sunnyvale where it is developing car prototypes, and the most recent rumors suggest Apple is also focusing on autonomous driving software as part of a two-prong approach that will allow it to both develop its own car and create software that could potentially be used in third-party vehicles.

A partnership with a company like Didi Chuxing, which employs thousands of drivers, could give Apple a resource for testing future software products.

Popular Stories

iOS 18 CarPlay Feature

iOS 18 Adds These 5 New Features to CarPlay

Thursday June 13, 2024 7:44 am PDT by
Apple did not mention CarPlay during its WWDC keynote this week, but iOS 18 includes a handful of new features for the in-car software. Overall, there is not a whole lot new for CarPlay on iOS 18, with changes seemingly limited to the Messages and Settings apps so far. Below, we recap everything new for CarPlay on iOS 18. New for CarPlay on iOS 18 1. Contact Photos in Messages App...
apple watch series 9 display

Kuo: Apple Watch Series 10 to Get Larger Screen and Thinner Design

Monday June 17, 2024 1:20 am PDT by
This year's Apple Watch Series 10 will be thinner and come in larger screen sizes than previous models, according to Apple analyst Ming-Chi Kuo. In his latest industry note -10-and-98075c44ce92">shared on Medium, Kuo said the screen size options on the next-generation Apple Watch will increase from 41mm to 45mm, and from 45mm to 49mm, while being encased in a thinner design. For reference,...
iPod Nano vs iPod Pro Ad Feature 1

Apple Developing Thinner MacBook Pro, Apple Watch, and iPhone

Monday June 17, 2024 2:22 am PDT by
Apple intends to slim down the MacBook Pro, Apple Watch, and iPhone, with the new ultra-thin M4 iPad Pro a sign of the company's new design trajectory, according to Bloomberg's Mark Gurman. When the M4 iPad Pro was unveiled last month, Apple touted it as the company's thinnest product ever, and even compared it to the 2012 iPod nano to emphasize its slim dimensions. Writing in the latest ...
iOS 18 Siri Integrated Feature

You Can Give Siri a New Name With iOS 18's Vocal Shortcuts

Friday June 14, 2024 4:33 pm PDT by
Apple in iOS 18 added a Vocal Shortcuts accessibility feature, and now that iOS 18 is available in a beta capacity, users have figured out that this option can be used to give Siri a new wake word. With Vocal Shortcuts, you can assign a custom phrase that Siri can understand to launch shortcuts and complete "complex tasks," and one of the shortcuts you can set up is an alternative for "Hey...
iOS 18 Wallet Feature

Here's What's New in Apple Wallet on iOS 18 for Event Tickets and More

Friday June 14, 2024 7:32 am PDT by
iOS 18 includes a handful of enhancements to the Wallet app on the iPhone, with new features for Apple Pay, Apple Cash, event tickets, and more. Below, we outline everything new for the Wallet app on iOS 18, based on information from Apple's press release and a WWDC 2024 coding session. Redesigned Event Tickets Event tickets have an all-new design in the Wallet app on iOS 18, complete...

Top Rated Comments

Mansu944 Avatar
100 months ago
Here comes the disguised and not-so-disguised casual racism...


Jeez you SJW's. is it ever ok to bag on anything that's not a white male? Every criticism of this and every joke about this is racist???
Score: 15 Votes (Like | Disagree)
nazaar Avatar
100 months ago
Are they doing this because they don't know what to do with computers anymore.
Score: 14 Votes (Like | Disagree)
neech7 Avatar
100 months ago
Apple just lost $1 billion.
A bunch of armchair gurus telling us they know better how to run one of the most profitable companies in the world, than the guy actually doing it.
Score: 14 Votes (Like | Disagree)
Michael Scrip Avatar
100 months ago
This is why Macs are delayed... too much futzing around with other things!

:)
Score: 14 Votes (Like | Disagree)
definitive Avatar
100 months ago
They couldn't have invested in an American based company instead?
Score: 12 Votes (Like | Disagree)
Asarien Avatar
100 months ago
I see...

This is what he does with his company's time and money instead of innovating and improving its existing products.
Score: 11 Votes (Like | Disagree)