China’s Didi EV three way partnership with Li Auto applies for chapter, Auto News, ET Auto

China’s Didi EV three way partnership with Li Auto applies for chapter, Auto News, ET Auto

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China's Didi EV joint venture with Li Auto applies for bankruptcy

Chinese language ride-hailing agency Didi’s three way partnership with Li Auto has utilized for chapter, in response to a court docket submitting, pointing to the tip of a four-year-old partnership to make electrical automobiles (EV).

The corporate, 51% owned by Didi whereas 49% held by Li Auto, submitted the chapter utility to Beijing No. 1 Intermediate Individuals’s Courtroom on Thursday, a press release on an internet site run by the Supreme Courtroom confirmed.

Didi and Li Auto didn’t instantly reply to requests for remark.

Didi and Li Auto, beforehand referred to as Chehejia, established Beijing Judian Chuxing Know-how in 2018 to develop and manufacture personalized sensible electrical automobiles for ride-hailing providers.

It was additionally amongst a sequence of partnerships Didi struck with main automakers together with Volkswagen, Toyota and BYD with plans to undertake extra EVs with autonomous driving applied sciences in its fleets.

Whereas Didi and BYD launched a co-developed EV mannequin D1 in 2020, a lot of the collaborations have made little progress.

Scrutiny from Beijing for suspected violation of information safety has pressured Didi to de-list from the New York Inventory Alternate and reined in its enterprise since final July.

Nonetheless, the ride-hailing agency has quietly pushed forward with a car-making mission, code-named “Da Vinci”, Reuters reported in June.

It was additionally in superior talks with state-backed Sinomach Autocellular to purchase a 3rd of its electric-vehicle unit, Reuters reported then.

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