• Kyodo

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Toyota Motor Corp. said Thursday it will set up a joint venture with Chinese ride-hailing giant Didi Chuxing Technology Co. and invest a total of ¥64.8 billion ($600 million) in Didi and the new venture, as part of efforts to expand its business in China.

The venture, to be set up as early as this fall, will offer ride-hailing drivers a range of services that include vehicle maintenance, insurance and financing.

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