After investing $1 billion, Apple takes a board seat at ‘China’s Uber’

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Apple took a seat on the board of Chinese ride-hailing company Didi Chuxing weeks after the iPhone-maker invested $1 billion in the firm. This is according to regulatory filings spotted by The Information, which notes that the board appointment in late June was not disclosed at the time of the investment.

The news shows how serious Apple is about its investment in Didi and its interest in the auto industry. Didi — which is valued at around $35 billion — famously beat Uber out of China, forcing the American company to sell its local business. The two companies had been in a war of attrition, using investors’ money to subsidize cheap rides for customers. Apple throwing its weight behind Didi will certainly have helped the Chinese firm’s…

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