DiDi Global in discussions to sell smart driving, cockpit assets to AutoAi – report
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DiDi Global (OTCPK:DIDIY) was reportedly in discussions to sell its smart driving and cockpit assets to AutoAi.
The move is part of DIDIY’s plans to focus more on its core business, Reuters said citing sources.
AutoAi is a unit of smart mobility services firm NavInfo.
The company was in plans to sell the assets in exchange for a stake in AutoAi, the report said, adding the deal could be worth close to 500M yuan.
Last year, the firm had sold its smart car arm to XPeng (XPEV) for $744M.
The ride-hailing firm, is also looking to invest more than 200M yuan in AutoAi, the Reuters report said.
DiDi’s reported decision to sell the assets, could be seen as a strategy to exit the electric vehicle business, as companies have to battle regulatory concerns and heightened competition.
Last week, China expressed strong opposition to the European Commission’s draft proposal to impose tariffs on electric vehicles imported from China, labeling it as a significant threat to its automotive sector.