In a move to increase its presence in China, Apple has just announced a $1 billion investment in ride-sharing service Didi. The latter will have even more ammunitions to fight off Uber, which is spending millions of its own in hope of breaking through the Chinese market.
Bloomberg reports that Apple’s money will help Didi build up a platform that handles more than 11 million rides a day and serves about 300 million users across China. Didi also covers more cities and has a bigger fleet of cars than Uber.
Both companies will continue to raise capital and fiercely battle for market shares.