Didi Chuxing and BAIC Group formed a joint venture.

Didi Chuxing, a Chinese ride-sharing, artificial intelligence and autonomous technology conglomerate, and BAIC Group, a Chinese state-owned enterprise and holding company of several automobile and machine manufacturers located in Beijing, formed a joint venture to work on new energy vehicle and artificial intelligence projects. The JV, BAIC-Xiaoju New Energy Auto Technology, aims to develop next-generation connected-car systems. Financial terms were not disclosed.