Li Auto and Didi Global are on the road to ending their ride-hailing joint venture

Aug. 11, 2022 8:04 AM ETDiDi Global Inc. (DIDIY)LIBy: Clark Schultz, SA News Editor

Car Light Trails of Choi Hung

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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.

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