On August 28, NavInfo announced that it, together with DiDi Smart Transportation Technology (“DiDi”), would increase their investment in AutoAI, a NavInfo-affiliated company.
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Beijing (Gasgoo)- On August 28, NavInfo announced that it, together with DiDi Smart Transportation Technology (“DiDi”), would increase their investment in AutoAI, a NavInfo-affiliated company.
Photo credit: DiDi
According to the announcement, NavInfo will invest 100 million yuan in the capital increase. Before this, NavInfo directly held a 30.29% stake in AutoAI (Nanjing), which will decrease to 27.01% after the investment, while still retaining its position as the largest shareholder.
DiDi will contribute its 100% stake in Ruilian Xingchen (Beijing) Technology Co., Ltd., valued at 450 million yuan, along with a cash injection of 220 million yuan to AutoAI. This makes DiDi the second-largest shareholder in AutoAI with a 16.46% stake.
DiDi emphasized that AutoAI remains an important ecosystem partner of the company, building upon its initial investment in AutoAI in 2018. This strengthened cooperation will further the exploration of intelligent mobility solutions within the smart transportation sector.
In response to the capital increase, Cheng Peng, CEO of NavInfo, told a local media outlet that DiDi has contributed not only cash but also its automotive intelligence assets and team to AutoAI. According to insider sources, around 300 members from DiDi's smart transportation team have joined AutoAI, focusing on the development of intelligent cockpit technologies.
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