Foxconn Subsidiary Invests USD120 Million in DiDi
Yicai Global
/SOURCE : Yicai
Foxconn Subsidiary Invests USD120 Million in DiDi

(Yicai Global) Sept. 9 -- Foxconn Technology Group announced yesterday that it has invested USD119 million in DiDi via its subsidiary Forteq Holdings Inc., for 0.355 percent of the company's equity. DiDi's responded, saying that investments from Foxconn and other companies will help it further develop existing technology.

The Chinese ride-hailing service provider has received several investments from top technology companies in recent years. Earlier in 2016, Apple invested USD 1 billion. Foxconn is Apple's largest OEM manufacturer, but whether the Foxconn-DiDi deal is connected with Apple remains unclear. With the increasing saturation of the global smart phone market, Apple and Foxconn are both angling to break into the smart car business.

Foxconn has previously invested several times in the auto sector, including its cooperation with Tencent to produce electric cars.

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