Li Auto and Didi Global Are on the Road to Ending Their Ride-Hailing Joint Venture
Seeking Alpha2022-08-11
A ride-hailing joint venture between Didi Global (OTCPK:DIDIY) and Li Auto (LI) has applied for bankruptcy protection per a court filing with the Beijing No. 1 Intermediate People's Court.
The companies had formed a partnership in 2018 to develop electric vehicles customized for ride-hailing services, with Didi owning 51% of the JV and Li Auto (LI) holding 49%.
Didi Global (OTCPK:DIDIY) and Li Auto (LI) have not commented yet on the bankruptcy filing or on any future plans together.
Last month, DiDi Global (OTCPK:DIDIY) started trading on the OTC market after a delisting from the New York Stock Exchange.
Shares of Li Auto (LI) rose 0.86% premarket in the U.S. to $31.79 vs. the 52-week trading range of $16.86 to $41.49.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
