China's Didi Sets Up JV with BAIC Unit to Work on NEV Projects

China's Didi Sets Up JV with BAIC Unit to Work on NEV Projects Kredit Foto: Reuters/Carlos Jasso

China's Didi Chuxing said it had set up a joint venture (JV) with Beijing Electric Vehicle Co, a unit of Chinese carmaker BAIC which will work on new energy vehicle and artificial intelligence projects.

The JV, BAIC-Xiaoju New Energy Auto Technology Co Ltd aims to develop "next generation connected-car systems", Didi, China's largest ride-hailing operator, said in statement.

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This is the first JV between Didi and state-owned BAIC which wants to stop selling gas driven car models by 2025 as China shifts the industry toward new energy vehicles (NEVs).

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