Aroundtheworld

DiDi, SoftBank launch JV in Japan

Chinese ride-sharing giant Didi Chuxing announced the launch of Didi Mobility Japan Corp, a joint venture (JV) with Japan’s SoftBank, to offer on-demand taxihailing services and smart transportation solutions for citizens and tourists in the world’s third-largest economy.

Didi looks forward to developing extensive collaboration with all industry players to assist in smart city initiatives in Japan and other Asian countries, said the company’s president Jean Liu, according to a statement Didi sent to the Global Times.

Cities in Japan are bracing for a new phase of economic expansion and tourism growth. Didi Japan aims to support the Japanese taxi industry to capture new opportunities in anticipation of the 2020 Tokyo Olympics.

Primavera invests in start-up

Zoox, a San Francisco-based driverless car start-up, recently raised $500 million in a new round of financing, which took its value to $3.2 billion after the deal.

Primavera Capital, a Chinese investment firm led by Fred Hu, former Greater China chairman at Goldman Sachs, jointly led the funding, Financial Times reported Wednesday.

Its founder Tim Kentley-Klay said the funding would support Zoox’s development and testing until “late next year.”

Founded in 2014, Zoox plans to be ready for a commercial launch of robo-taxi services by as soon as 2020, it said. The company now has more than 500 employees.