BEIJING: Chinese electric car giant XPeng said on Monday it would buy the EV subsidiary of ride-hailing platform Didi for more than $740 million and launch a new brand of vehicles. The Chinese electric car giant said on Monday, Aug. 28, 2023, it would buy ride-hailing platform Didi's EV subsidiary for more than $740 million. AFP PHOTODidi is China's leading car-hailing app but also operates a subsidiary designing electric vehicles. In a filing to the Hong Kong Stock Exchange where XPeng is listed the car giant said it had reached a deal with Didi to buy that subsidiary for $744 million. XPeng will also partner with Didi to launch a new brand of electric vehicles next year.
