AutoBeta(AutoBeta.net)09/19 Report--

According to the industrial and commercial publicity information system, Toyota Motor and Didi Chuxing formally established a joint venture company, Fengju Chuxing (Beijing) Technology Co., Ltd., which is positioned in car rental services, covering car sales, technology development and online car-hailing businesses. The registered capital of the company is USD 157.95 million, the shareholder is GAC Toyota, and the chairman and legal person are Yang Jun (vice president of Didi Chuxing). The main business scope of the joint venture company is car rental, car sales, online car-hailing operation and automobile parts, etc.

According to the information found from relevant channels, the company currently holding absolute shares in "Fengju Chuxing" is a company named Destiny Mobility Investments Limited, registered on July 29 this year, while the other 5.06% shares are held by GAC Toyota Motor Co., Ltd.

In fact, as early as May this year, there were media reports that Japanese auto giant Toyota would invest in Didi Chuxing, a joint venture between the two sides to form a car rental company, but this news has not been confirmed by both companies.

On July 25, Toyota announced an investment of $600 million in Didi Chuxing, which will expand cooperation in the field of smart travel, while Toyota will invest a total of $600 million in Didi Chuxing. Among them, Toyota and Didi will jointly establish a joint venture company with GAC Toyota Motor Co., Ltd. to provide services for the actual vehicles of online car-hailing vehicles, which is part of the formal agreement of the "Fengju Chuxing" joint venture company established this time.

It is understood that the new joint venture company will buy Toyota brand models and lease vehicles to online taxi drivers, and vehicle maintenance services will be completed by Toyota dealers. In the future, Toyota also hopes to introduce pure electric vehicles that meet the travel service needs of China Mobile and make them popular.

In the face of the rapid popularity of shared travel and online ride-hailing, traditional automakers are actively seeking cooperation with travel platforms, and Toyota is no exception: Toyota invested in Uber in 2015; Toyota invested $1 billion in Grab, a Singapore taxi service, and continued to invest $500 million in Uber in 2018; In 2019, Toyota joined SoftBank and Denso to invest $1 billion to acquire a 14% stake in Uber's self-driving car division and announced an investment of $600 million in Didi.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat