Volkswagen AG said on Thursday it was in talks with China's Didi Chuxing to set up a high-end car hailing service venture in China, the latest in a rush of tie-ups between automakers and technology firms seeking to profit from new ride services.

Didi Chuxing is China's largest ride-hailing company, with 300 million users across more than 400 cities in China. It cemented its dominance in the domestic market earlier this year, when it bought Uber's operations in the country.

Volkswagen, one of the world's biggest automakers, also announced this year that it is investing in ride-hailing company Gett.

In similar moves, General Motors has invested in ride-hailing service Lyft and Toyota Motor Corp has a partnership with Uber Technologies.