Tesla’s China rival Xpeng buys ride hailing giant Didi’s smart EV assets for $744M

Chinese electric vehicle upstart Xpeng is acquiring the smart EV assets of ride hailing giant Didi for $744 million, marking another significant alliance that the Tesla challenger has struck in recent months.
In an announcement on Monday, Didi said the duo is forming a strategic partnership to “promote the global application of smart electric vehicles and technologies.”
Notably, the Didi assets will become a new sub-brand called “Mona” under Xpeng, which is scheduled to launch in 2024. The partnership also extends to areas including marketing, financial insurance servic

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