According to the Financial Times, Apple is to invest $1bn in Chinese ride-hailing app Didi Chuxing and Uber’s main competitor in the country, marking the biggest injection received by the lossmaking company. Formerly known as Didi Kuaidi, the company has been valued at $20bn in recent funding rounds, up from $15bn last July. Apple did not specify what size of stake it will receive. While the investment is small compared with Apple’s $233bn cash pile, it will be the US group’s largest minority investment and marks a departure from its historic aversion to tapping this to invest in start-ups. Last month, billionaire investor Carl Icahn announced his divestment in Apple citing concerns about the China market.