California
clear sky
11.2 ° C
12.8 °
8.8 °
82 %
2.1kmh
0 %
Wed
23 °
Thu
17 °
Fri
20 °
Sat
25 °
Sun
26 °
California
clear sky
11.2 ° C
12.8 °
8.8 °
82 %
2.1kmh
0 %
Wed
23 °
Thu
17 °
Fri
20 °
Sat
25 °
Sun
26 °
Wednesday, October 9, 2024

Under Haryana shock, Congress...

The aftershocks of the Congress's disappointing performance in the Haryana elections continued...

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Nobel prize in Chemistry...

NEW DELHI: The Nobel prize in Chemistry 2024 has been...
HomeChinaChinese ride-hailer Didi...

Chinese ride-hailer Didi invests in auto tech firm, sells more assets · TechNode


China’s Didi will invest RMB 670 million ($94.3 million) in state-backed car tech firm AutoAi for a 16.46% stake, in a move that will also see the ride-hailer become leaner and more focused on its core business by selling off its smart cockpit division. The mobility giant will become the second-biggest shareholder of AutoAi, a company majority-controlled by state-backed digital mapping provider NavInfo, alongside other smaller investors such as Taiwanese chipmaker MediaTek, Chinese gaming giant Tencent, and German parts supplier Bosch. That’s according to a regulatory filing released by Shenzhen-listed NavInfo on Wednesday, when the company also announced a further investment of RMB 100 million into its subsidiary.

A team of 300 or so employees, previously responsible for developing in-car digital infotainment systems for Didi’s electric vehicle business, has been incorporated into AutoAi, people close to the deal told Chinese media Caixin. Didi said in a statement that it has been an investor in AutoAi since 2018 and will ramp up its development efforts in the transition to smart mobility. The news comes after Didi sold its EV development assets to Chinese EV maker Xpeng Motors in an all-stock transaction valued at $744 million for a 3.25% stake in Xpeng last August, TechNode reported. Didi reported a net profit of RMB 1.4 billion for the three months ended June 30, compared with the net losses of RMB 267 million and RMB 1.4 billion it booked a year ago and a quarter earlier, respectively. [Caixin, NavInfo filing, in Chinese]

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Under Haryana shock, Congress snubbed by ally Samajwadi Party before UP by-polls

The aftershocks of the Congress's disappointing performance in the Haryana elections continued to reverberate even in Uttar Pradesh, with Akhilesh Yadav-led Samajwadi Party -- a key member of the INDIA bloc -- denying the grand old party's seat-sharing...

Weight Loss Tips: Lemons Can Help You Lose Weight; Here’s How

<!-- -->Despite being acidic, lemons have an alkalising effect on the body once metabolisedCertain foods can help with weight loss by boosting metabolism, reducing hunger, and aiding digestion. Lemon is one such food that is often associated with...

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