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China's biggest ride-hailing company to deepen focus on EVs

logo of Didi Chuxing displayed on a building in Hangzhou in China's eastern Zhejiang province
Logo of Didi Chuxing. Photo: STR/AFP/Getty Images

China's largest ride-hailing startup Didi Chuxing announced Monday that it will form a joint venture with automotive giant BAIC to deepen its focus on electric vehicles, TechCrunch and others report.

Why it matters: China is the world's largest auto market and already has the largest number of EVs, too.

The big picture: Monday's announcement is another sign of two big and converging trends in transportation — the rise of shared-mobility and EVs.

Where it stands: TechCrunch writes...

"'Jingju’ — as the venture is called — is a partnership between Didi and BAIC affiliate Beijing Electric Vehicle that will develop 'next-generation connected-car systems' using fleet management, AI and other tech, according to an announcement made today."

Go deeper: Electric vehicles in China send real-time data to government