Softbank to Invest in Didi’s Autonomous Driving Unit

Didi’s largest backer is looking to take a stake in its self-driving vehicle unit.

According to The Information, Tokyo-based SoftBank is finalizing a deal to lead an investment in the Chinese ride-hailer’s autonomous driving arm.

The deal, worth $300 million, would deepen SoftBank’s ties with Didi.

The deal also comes amidst growing issues at SoftBank. With the coronavirus ravaging the globe, several of the company’s portfolio firms have sunk deep in the red, forcing SoftBank to announce drastic measures to buoy its stock and restore confidence.

The company on Monday announced that it would sell $41 billion of assets to reduce debt and purchase back some stocks. It also said that it would be raising $5 billion to invest in startups.

Photo: iStock