Didi Global, China’s leading ride-hailing company, is reportedly in advanced discussions to sell its smart driving and cockpit assets to AutoAi, a subsidiary of state-backed digital mapping firm NavInfo. The move comes as Didi refocuses on its core business following a stringent regulatory crackdown, according to sources familiar with the matter.
Under the proposed deal, Didi would receive a stake in AutoAi in exchange for its smart driving assets, which are valued at approximately 500 million yuan ($70 million), sources revealed. This transaction would mark a significant step back for Didi from the highly competitive electric vehicle (EV) market, where automakers are aggressively pursuing technologies like smart cockpits and autonomous driving to gain an edge.
This potential sale follows Didi’s decision last year to divest its EV development business to Chinese EV manufacturer Xpeng in a deal valued at $744 million, in exchange for a 3.25% stake in the company. The Xpeng deal involved the bulk of Didi’s EV-related assets, further signaling Didi’s strategic shift away from the electric vehicle sector.
The agreement with AutoAi could be made public in the coming days, according to sources who requested anonymity due to the private nature of the information. Neither Didi, NavInfo, nor AutoAi have responded to requests for comment.
