DiDi Autonomous Driving has secured a substantial investment of up to $149m from Guangzhou Automobile Group Co., Ltd. (GAC Group).
This financial infusion comes courtesy of GAC Group’s wholly-owned subsidiary, GAC Capital Co., Ltd., and Guangzhou Development District Investment Group Co., Ltd., and is expected to fuel DiDi Autonomous Driving’s commitment to intensive research and development.
The capital injection is also set to be used to establish a sustainable and open ecosystem, expedite the implementation of products, foster open industry collaborations, and accelerate the widespread commercialisation of autonomous driving technology.
Zhang Bo, CTO of DiDi and CEO of DiDi Autonomous Driving, said, “As a leading company in the automotive industry and a pioneer in the global new energy sector, GAC Group has built a strong foothold across the entire value chain. We are pleased to strengthen our strategic partnership with GAC Group. The strong support from GAC Group will help us accelerate the construction of an open, sustainable, and mixed dispatching network for shared mobility, providing users with safe, convenient, and cost-effective autonomous driving services.”
Yu Jun, Vice President of GAC Group and Chairman of GAC Capital, said, “GAC Group has always been committed to intelligent manufacturing and autonomous driving at the forefront of the industry. DiDi Autonomous Driving has proven exceptional strengths in technology and scenario-based data systems. We are confident in its growth potential and look forward to working with DiDi Autonomous Driving to jointly facilitate the transformation of the transportation and automotive industries.”
At present, DiDi Autonomous Driving operates Robotaxi services in select areas of Guangzhou and Shanghai. Employing a mixed dispatching model that combines autonomous vehicles with human-driven counterparts, these Robotaxi services have maintained a flawless safety record, with 1,200 consecutive days of safe operation.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
