While there is one after another bad news from the giants of the automobile industry, Toyota Motor has brought some smiles in the face of the automobile industry workers and the experts too. They declared on last Thursday that they will be investing around 600 million dollars in their tie-up with Chinese company Didi Chuxing.
Didi is one of the giant Chinese companies in the sect of ride-hailing and Toyota is all set to have a deep tie-up with them for their new joint venture. The company executive in the press conference declared that they would be expanding their business in the coming years and would be capturing the electric car market of the world by at least 38% by the end of 2025.
They also declared in the same meet about their partnership with another Chinese automobile group, called Guangzhou Automobile. The two companies will be sharing their technologies and services to make the latest impact on the automobile market, especially in terms of electric vehicles.
Reportedly, there has been a huge loss in the sect of the automobile in the globe, where almost all the big players are affected by some way or other. Standing at that point, this news from the desk of Toyota, the Japanese carmaker has given some oxygen to the automobile market.
In another stance, Didi, the Chinese ride-hailing giant has also gone for a tie-up with Volkswagen and the new energy vehicle unit of BAIC. Hence, it can be stated that while the big players in automobile section have been continuous with their lubricated engines, the other part of the world is going faster towards the use of electric engines and trying to revive the market of the automobile.