[doublepost=1463426640][/doublepost]Apple upsets China.![]()
Apple announced yesterday that it has invested $1 billion in Chinese ride-sharing service Didi Chuxing, but CEO Tim Cook refused to elaborate on the reasoning behind the move, beyond saying that it will help the company better understand the Chinese market and "deliver a strong return" on its invested capital over the long term.![Didi-Chuxing-1.jpg]()
Nevertheless, a pair of new reports suggest that Apple's ambitions behind its investment in the Uber rival could relate to its oft-rumored electric vehicle plans and broader push into the automotive industry.
The Wall Street Journal wrote that Didi Chuxing is "not only an important ally in a key market, but also a rich data source for self-driving vehicles," which is valuable to Apple amid rumors that it is developing its own electric and possibly autonomous vehicle.The Information reported that ride-sharing services like Didi Chuxing and Uber are highly interested in self-driving vehicles, which would reduce overhead costs by eliminating the need for contracted drivers. In fact, Uber CEO Travis Kalanick was reportedly planning to meet at Apple headquarters this week to "talk about future partnership opportunities," but the status of that meeting remains unknown.The so-called Apple Car, allegedly known as Project Titan internally, could launch by 2020. The bulk of research and development may be centered in the Santa Clara Valley area, near Apple's existing Cupertino headquarters, led by a team that includes former Tesla, Ford, and GM employees and other automotive experts. The vehicle is expected to compete with the likes of Tesla and Google.
Article Link: Apple's $1 Billion Investment in Didi Chuxing Aligned With Electric Vehicle Plans
China gets tough with Apple and their shares suffer so big investors desert.
Apple gives China a huge bribe.
Nice people the Chinese and Apple.
