Apple made a decision last week that has many industry experts scratching their heads–they announced the company has invested $1 billion in a ride-hailing company called Didi Chuxing, which many call the Uber of China. It’s an unprecedented move that has left many asking, why?
The Washington Post has two theories.
Firstly, the Post explains that Apple has billions in revenue tied up overseas, and bringing that money back to the U.S.–such as, by investing in an American company–would come with a costly tax bill.
Secondly, we’ve all heard the rumors that Apple is quietly working behind the scenes to nab a piece of the driverless transportation pie. By investing in Didi Chuxing, Apple is looking toward making progress on that goal.