SoftBank’s founder and CEO Masayoshi Son revealed in an interview with CNBC that the company is injecting an additional US$1.6 billion into Didi Chuxing, its third investment following earlier rounds.
Didi received capital worth US$8 billion from SoftBank in 2017.
Although Didi is yet to make a profit, Son considers investment in China’s largest ride-hailing company “reasonable” because it grows so fast.
Didi generated a RMB 10.9 billion (US$1.61 billion) deficit in the 2018 financial year, according to leaked information.
Didi hasn’t yet responded to KrAsia‘s request for comment.