Xpeng to buy Didi's smart car business for $774 million

Chinese EV company Xpeng (XPEV) announced that it will be buying Didi's smart car unit in a deal worth up to $774 million. Yahoo Finance Reporter Pras Subramanian explains the advantages of the deal, saying that “Xpeng is getting Didi’s expertise with ride-hailing and autonomous technology.” Subramanian notes the competitiveness within the Chinese EV space and that Xpeng’s new deal with Didi could help them get an edge over the competition.