China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744m

China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744m

A screen displays trading information for ride-hailing giant Didi Global on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 3, 2021. REUTERS/Brendan McDermid/File photo

Chinese electric car company Xpeng said it will acquire ride-hailing giant Didi’s smart electric vehicle (EV) unit in a deal worth as much as $744 million and the two companies will form a strategic partnership.