Didi pursues EV stake as it emerges from regulatory shadows

FILE PHOTO: The logo of Didi Chuxing is seen at its headquarters in Beijing, China, May 18, 2016. Reuters

China’s Didi is in talks with state-backed Sinomach Automobile to buy a third of its electric-vehicle unit, two sources said, signalling the ride-hailer’s regulatory troubles are in the rear view mirror as it focuses on growth.

The deal, if completed, would accelerate Didi Global Inc’s strategic expansion in the world’s largest EV market and help cushion the impact of the pandemic on its core ride-hailing business.

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