(Bloomberg) -- China's Didi Chuxing is teaming up with 12 automakers including the Renault-Nissan-Mitsubishi alliance to build an electric-vehicle-sharing network in the world's largest auto market.
Didi, the dominant ride-hailing company in China, launched its car-sharing platform Wednesday, the Chinese startup said in a statement.
China surpassed the U.S. as the top market for electric vehicles in 2015 thanks to government subsidies and stringent emission regulations. The government has set a goal to sell 7 million zero- and low-emission vehicles annually by 2025. As the auto industry transforms rapidly toward battery-powered vehicles and autonomous cars, major manufacturers are bracing for challenges including billions of dollars in investment with uncertain payoffs.
The other 11 partners in the network are BAIC BJEV, BYD, Chang'an Automobile Group, Chery Automobile Group, Dongfeng Passenger Vehicle, First Auto Works, Geely Auto, Hawtai Motor, JAC Motors, KIA Motors, Renault-Nissan-Mitsubishi, and Zotye Auto.
To contact Bloomberg News staff for this story: Yan Zhang in Beijing at yzhang1044@bloomberg.net.
To contact the editors responsible for this story: Anand Krishnamoorthy at anandk@bloomberg.net, Lena Lee
©2018 Bloomberg L.P.
With assistance from Yan Zhang
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