Didi’s Self-Driving Unit Raises USD500 Million

Published on: May 29, 2020
Author: Amy Liu

The self-driving unit of Chinese ride-hailing platform Didi Chuxing completed its first funding round led by SoftBank Vision Fund 2 and raised over USD500 million.

It is the single largest fundraiser for a Chinese self-driving startup, Didi said in a statement released today. The Beijing-based company will use the funds to further develop its autonomous driving technology and testing as well as accelerate the deployment of self-driving services in China and overseas, it said.

Didi also plans to launch self-driving fleet operations in China as 5G and AI technologies benefit digital infrastructure construction. Producing self-driving cars with automotive partners is also in Didi’s plans.

The company began developing autonomous driving in 2016, upgrading the unit to an independent company last year. It has open-road self-driving testing licenses in Beijing, Shanghai, Suzhou and the US state of California.

The unit will also work with Xiaoju Automobile Solutions, Didi’s one-stop auto solutions platform, and Didi Finance to develop smart charging networks, fleet maintenance service, and insurance programs for self-driving fleets.

Source: Yicai Global