Chinese ride-hailing giant DiDi Global will exchange cash and its smart driving and cockpit unit for a 16.5% stake in AutoAi, a subsidiary of state-backed mapping firm NavInfo. This move, disclosed in a Shenzhen Stock Exchange filing, will make DiDi the second-largest shareholder in AutoAi, while NavInfo remains the largest with a 27% stake.
The deal values DiDi’s smart driving unit at 450 million yuan ($62.75 million) and includes an increase in AutoAi’s registered capital by 27.45 million yuan ($3.85 million). DiDi’s strategic shift away from electric vehicle (EV) manufacturing follows the sale of its EV assets to Xpeng in 2023 for $744 million in exchange for a 3.25% stake in the automaker.