Toyota to invest USD 600 Million to Expand Mobility as a Service (MaaS) in China

Toyota Motor in a press release revealed that it had signed an agreement with Didi Chuxing. With this agreement, the company is looking to expand collaboration in Mobility as a Service segment in China.

Didi is Ride-hailing mobile transportation platform. The company offers a full range of commuting options to around 400 cities in China.

Under this new agreement, Toyota will infuse around USD 600 Million in DiDi (Didi Chuxing) and a join Venture. The announcement noted the launch of a new entity GAC Toyota Motor Co., Ltd (GTMC). The new company will offer vehicle-related services for ride-hailing drivers.

In January 2018, Toyota and Didi announced their collaboration on an e-Palette Concept Vehicle and revealed vehicle-related services for DiDi Chuxing at Toyota dealers. Those cars are fully equipped with the Toyota in-vehicle device, TransLog, which uses the intelligent analysis capabilities of Toyota Mobility Services Platform to provide support for the quality automobile maintenance.

Executive Opinion

Toyota Executive Vice President responsible for the connected area, Shigeki Tomoyama, said, "I am delighted that we are strengthening our collaboration, which utilizes Toyota's connected technologies and next-generation BEVs, with DiDi, China's mobility service market leader. Looking ahead, we will work with DiDi to develop services that are more attractive, safe, and secure for our customers in China."

Senior Vice President of DiDi, Stephen Zhu, said, "DiDi is committed to help our cities achieve new energy and smart transportation goals with partners from home and abroad. We look forward to combining DiDi's expertise in AI-based large-scale mobility operations and Toyota's leading connected vehicle technology to build a next-generation intelligent transportation framework for sustainable cities."

Toyota's collaboration with Didi

The announcement noted that Toyota and DiDi plan to rollout full-scale implementation of services offered in China. With high quality and more efficient businesses, both companies will offer solutions for mobility services.

Toyota's proprietary Mobility Services Platform (MSPF) provides safe driving guidance to ride-hailing drivers along with quality automobile maintenance support. The partnership also allows the DiDi and Toyota to expand the connected services which are provided by the MSPF in its vital value chain, which includes the financing, maintenance, and vehicle management for customers.

Toyota is also working to promote the use of electric battery vehicles that are highly suitable for future car mobility in China, notes the announcement.