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

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.

For further details see: