Toyota Motor-backed autonomous driving startup Pony.ai announced on Monday that it has pocketed $100 million in a Series C+ round of financing. The latest fundraising brings the total corpus raised by Pony.ai in its Series C round to $367 million. The US-based startup, founded by Chinese professionals, completed the Series C round fundraising through two… Continue reading Toyota-backed self-driving startup Pony.ai raises $100m Series C+ round
Tag: Didi
Didi’s group-buying unit mulls raising $4b to boost growth plans
Chinese ride-hailing giant Didi Chuxing’s community business is considering raising $4 billion to boost its growth amid increasing demand for group-buying delivery services, according to people familiar with the matter. Didi, backed by SoftBank Group Corp., is weighing chipping in about $3 billion to Chengxin Youxuan, the people said, asking not to be identified because… Continue reading Didi’s group-buying unit mulls raising $4b to boost growth plans
Weekly funding: Didi Cargo hauls in $1.5b to take top spot
Keep track of all the startup investment activities in Asia through our weekly funding list. Go to Source
Autonomous driving startup Uisee attracts Chinese state investor in $150M round
There is no lack of state funding for China’s smart driving startups nowadays as the country advances its goal to become a global leader in artificial intelligence in a decade’s time. The latest to get a financial boost is Uisee, a Beijing-based company founded by a group of tech veterans including the former head of… Continue reading Autonomous driving startup Uisee attracts Chinese state investor in $150M round
Chinese EV startup Aiways said to seek funding ahead of IPO: Report
Aichi Automobile, a Chinese electric vehicle (EV) startup better known as Aiways, is in the market raising a new funding round that could give it a valuation of over $2 billion before its potential initial public offering (IPO) in the US. Chinese ride-hailing giant Didi Chuxing is one of the investors mulling participating in the… Continue reading Chinese EV startup Aiways said to seek funding ahead of IPO: Report
Chinese driverless car start-up WeRide raises $310 million in funding as competition heats up
A car equipped with WeRide autonomous driving technology in Guangzhou, China. WeRide GUANGZHOU, China — Chinese driverless car start-up WeRide has raised $310 million in a new round of funding as it pushes to commercialize its technology. Yutong Group, a Chinese company that manufactures commercial vehicles including electric buses, lead the funding round. A number… Continue reading Chinese driverless car start-up WeRide raises $310 million in funding as competition heats up
Apple Car expected to shake up auto industry in Asia and world
BEIJING — Global information technology leader Apple is highly likely to break into the automobile sector. The American company is reportedly planning to create self-driving electric vehicles manufactured by an automaker under a tie-up agreement using a business model similar to its iPhone production. A potential Apple Car, if realized, is thought certain to affect the competitive landscape of the… Continue reading Apple Car expected to shake up auto industry in Asia and world
China’s search giant Baidu to set up an EV making venture
China’s search giant Baidu is extending its car ambitions from mere software to production. The company said Monday that it will set up a company to produce electric vehicles with the help of Chinese automaker Geely. Baidu, a dominant player in China’s internet search market for the last decade or so, will provide smart driving… Continue reading China’s search giant Baidu to set up an EV making venture
Chinese search firm Baidu to create an electric vehicle company as tech giants jump into auto space
GUANGZHOU, China — Chinese search giant Baidu will create a standalone electric vehicle company, a person familiar with the matter told CNBC. The Beijing-headquartered company will be the majority shareholder while Chinese automaker Geely will take a minority stake, the person said. Geely will be responsible for manufacturing the vehicles while Baidu will focus on… Continue reading Chinese search firm Baidu to create an electric vehicle company as tech giants jump into auto space
China’s Baidu said to plan smart EV firm, to make cars at Geely plant
China’s Baidu Inc plans to form a company to make smart electric vehicles (EV), two sources familiar with the matter said, with manufacturing to be carried out at plants owned by automaker Geely. Baidu, the leading search engine company in China, will take a majority stake and absolute voting power in the new company. The venture will revamp some of Geely‘s existing car manufacturing facilities to make the vehicles, with in-car software input from Baidu and… Continue reading China’s Baidu said to plan smart EV firm, to make cars at Geely plant