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Didi’s self-driving unit close to “several hundred million dollars” infundraising: report
Didi's self-driving division is pursuing a funding round aiming for 'several hundred million dollars' to reach a valuation of approximately $5 billion. Backing may come from a Beijing-based fund after a previous $289 million investment from GAC and Didi itself. The autonomous unit, operational since 2016 and independent since 2019, currently tests over 200 robocars in major Chinese cities.
Key points
- Didi's self-driving unit is seeking funds to value it at about $5 billion.
- The funding round aims to secure 'several hundred million dollars'.
- Potential investment could come from a Beijing-based fund.
- Previously raised $289 million in October 2022, led by GAC.
- Didi entered autonomous driving in 2016 and became independent in 2019.
- Currently operates over 200 robocars in cities like Beijing, Shanghai, and Guangzhou.
Why it matters
- The investment landscape for autonomous vehicles is rapidly evolving, with increased competition among companies for funding.
- This funding trend aligns with the broader IT trend of investment in AI and robotics as businesses seek automation solutions.
- Didi's advances in autonomous driving reflect China's push for self-driving technology and regulatory support in this sector.
Didi's self-driving unit is positioning itself for significant growth, seeking substantial funding to expand its operations and continues China's aggressive development in autonomous vehicle technology.