ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperBusiness /CompaniesEconomyPolicy WatchChina DataCompaniesMarketsIndustriesViewMotoringTechGreen ChinaChina ExpoFoxcoon unit invests $119m in Didi ChuxingBy Meng Jing( 14:08Comments Print Mail Large Medium SmallThe logo of Didi Chuxing is seen at its headquarters in Beijing, May 18, 2016.[Photo/Agencies]Foxconn Technology Group, the worlds largest contract electronics manufacturer, revealed on Thursday its subsidiary had invested $119.9 million in Chinese ride-hailing company Didi Chuxing.
Foxconn unit Forteq Holdings Inc has acquired a 0.355 percent stake in Didi, the company said in a filing to the Taiwan Stock Exchange.
The deal marks the latest investment landed by Didi, one of Chinas most valuable startups. Apple Inc invested $1 billion in Didi earlier this year.
Foxcoon, a major assembler of Apple devices, said the transaction was part of a broader effort to build products and services for the Internet of Things, a growing array of small, connected objects and devices.
Foxcoon has shown great interest in transportation industries. In 2015, it inked a framework agreement on strategic cooperation with leading Internet firm Tencent and China Harmony Auto Holding in developing electric cars.
According to a statement, the three will combine Tencents Internet platform, Foxconns mobile technology and Harmony Autos experience in high-end car sales and services to provide customers cars with better driving experiences.0Related StoriesChinas Ministry of Commerce investigating Didi-Uber mergerDidi strengthens ties with taxi firmsCAR drives up H1 net earningsDidi Chuxing launches online car rental serviceCan Chinas ride-hailing company Didi change the world?PhotoTop 10 brands most relevant to Chinas Generation-YFirst annual Drone Festival in ParisSix policy signals China sent at G20 SummitApple unveils new generation productsHigh-income, no weekends: Post-90s property beautys daily lifeMany faces, memorable momentsChina Economy By NumbersChina Economy by Numbers – Dec China Economy by Numbers – Nov NewsmakerCEO Q&A – Ton Büchner of AkzoNobel Chinese buyers circle soccer super agent Stellar GroupMost ViewedTodays Top NewsFoxcoon unit invests $119m in Didi ChuxingBullet train attendants strut new look in XianChinas producer prices drop 0.8% in AugustChina consumer prices up 1.3% in AugustAnt Financial gears up for more wealth managementBelt and Road Initiative game changer for Pakistan: ex-Pakistani PMBusiness associations to contribute to Belt and RoadChina needs varied funding models for rail transit projectsHot TopicsFiat SpA Peugeot SA Taxi app Internet finance Housing price Disneyland WeChatEditors PicksTop 10 saving countries in the world Top 5 smart home applications attracting Chinese consumers Top 10 least affordable provincial-level regions in China Top 10 FDI sources for Chinese mainland in Jan-April Specials2016 Summer DavosWorld Robot Conference 2015Made in China – fight against counterfeit goods…| About China Daily | Advertise on Site | Contact Us | Job Offer | Expat Employment |Copyright 1995 -var oTime = new Date();
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