DiDi Smart Transportation Technology will make up 87% of AutoAi's plan to boost its registered capital by 27.45 million yuan ( USD 3.85 million), with NavInfo contributing the remainder, showed the filing with the Shenzhen Stock Exchange.
DiDi will become the second-largest shareholder of AutoAi, a provider of intelligent cockpits-related software and hardware. NavInfo will be the biggest shareholder with 27%.
The deal, which confirms a Reuters report on Monday, values the DiDi subsidiary at 450 million yuan, the filing showed.
DiDi expects the deal will help it pull back significantly from electric vehicle (EV) manufacturing where automakers compete fiercely in a consolidating market, sources have said.
The ride-hailer sold its EV development business, comprising the majority of its EV-related assets, to Xpeng in 2023 in a deal worth USD 744 million, in exchange for a roughly 3.25% stake in the automaker.
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