Didi enters into new electric car joint venture

In the tech world, Chinese taxi app Didi Chuxing is entering into a deal with electric-car startup Beijing Chehejia Information Technology, in an attempt to bring new energy vehicles into the ride-sharing industry.

The cars being developed under the collaboration will be level 3 standard (on a 1-5 scale, 5 signifying that no driver is necessary), meaning that vehicles will be able to be autonomous under certain operating conditions, sources told Caixin Global. The two firms hope to begin mass production of the vehicles by 2020.

Didi will hold a majority stake in the venture, the sources added, although further financial details have yet to be released.