Forteq Holdings Inc, a subsidiary of Taiwanese electronics manufacturer Foxconn, has reportedly invested $120 million in Didi Chuxing, the Chinese taxi operating company, acquiring a 0.36% stake. Didi already has investments from Alibaba, DST Global, Tencent Holdings and Temasek Holdings among others. Last month, Uber sold its China business into Didi Chuxing for a reported $1 billion for 1/5th of the stake in Didi. In May, Apple pumped in $1 billion in Didi to understand the Chinese market, make future collaborations and to get a strong return on its investment. Apple’s stake in the company was unknown. Note that in April, American Lyft users could get a cab in China through Didi and GrabTaxi in Southeast Asia. This was a result of an alliance between America’s Lyft, Ola from India, Didi from China, and GrabTaxi from Singapore in December last year. Didi’s investments: In September 2015, Didi invested in Ola’s $225 million round of funding. Didi has also invested $100 million into Lyft, and it participated in a $350 million round of funding for GrabTaxi. Meru Cabs-Taxis G7 alliance: In October 2015, the Indian Meru Cabs partnered with France’s Taxis G7 to launch eCabs, a global alliance of radio taxi operators which would provide cab services to foreign travelers in India and to Indian travelers going abroad through a mobile app. Uber’s $5 billion funding In June this year, Uber raised $3.5 billion from the Saudi Arabian Public Investment Fund as a part of its global fund and would be utilised…
