Didi’s Xiaoju Automobile Solutions invests in EV solution provider SKIO

Posted on 8/13/2018 4:34:43 PM

Chinese electric vehicle (EV) solution provider SKIO announced on August 13 that it has received a strategic investment from Xiaoju Automobile Solutions, the auto service platform of Chinese ride-hailing giant Didi Chuxing. The investment detail remained unexposed so far.
SKIO is committed to providing solutions directed at such scenarios as EV customization, busy urban commuting and mobile grid services. Previously, SKIO had teamed up with Didi Chuxing to construct and operate battery swapping stations and deploy EVs for ride-hailing services.
This is Xiaoju Automobile Solutions's first outward investment since it was officially built last week. Didi Chuxing announced on August 6 that it will invest $ 1 billion in its auto services business as part of a broader rebranding of the unit, aiming to provide car-owners with one-stop automobile services. Along with the investment, Didi was upgrading the auto solutions platform to Xiaoju Automobile Solutions Co. The upgraded company will work on providing car owners and DiDi drivers with such services as auto leasing, trading, refueling, maintenance, repair and car rentals.
In April, DiDi partnered with 31 auto industry firms to build an integrated car operator platform dubbed Torrent or Didi Auto Alliance, involving domestic and foreign firms, like BAIC, Bosch, BYD and Toyota. Key areas of cooperation include auto sales and leasing, services, finance, fleet operation and car-sharing, and co-development of vehicles and industry standards.
Chengwei, founder and CEO of Didi, said that the company aims to serve 2 billion global users and deploy 10 million NEVs in total over the next decade.

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