Softbank invests $5 bil. in Didi Chuxing

Softbank Group is investing 5 billion dollars in China’s biggest ride-dispatch firm.

Sources say Softbank has already provided funds to Didi Chuxing through a subsidiary.

Didi has an overwhelming share of the Chinese market. Customers can request taxis and other cars using its smartphone apps.

Softbank apparently believes the business still has plenty of room to grow.

Didi is expected to use the money to step up development of self-driving and other technologies.

Softbank’s investment is far larger than the one billion dollars that US IT giant Apple sank into Didi last year. Media agencies

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