BEIJING (Reuters) - China's Didi Chuxing said on Monday it had set up a joint venture (JV) with Beijing Electric Vehicle Co., a unit of Chinese carmaker BAIC, which will work on new energy vehicle and artificial intelligence projects.
The JV, BAIC-Xiaoju New Energy Auto Technology Co. Ltd, aims to develop "next-generation connected-car systems", Didi, China's largest ride-hailing operator, said in a statement.
This is the first JV between Didi and state-owned BAIC, which wants to stop selling gas driven car models by 2025 as China shifts the industry towards new energy vehicles (NEVs).
(Reporting by Yilei Sun and Cate Cadell in Beijing; Editing by Himani Sarkar)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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