China’s Hellobike sets up new robotaxi firm with Ant Group, CATL

investing.com • 17 hours ago

Hellobike Announces New Robotaxi Firm

BEIJING (Reuters) – China’s bike-sharing platform Hellobike announced the formation of a new robotaxi company in partnership with Ant Group and CATL on Monday.

The three companies have collectively invested over 3 billion yuan (approximately $417.40 million) as initial funding, according to Hellobike’s statement.

This new venture, registered in Shanghai, will concentrate on level 4 autonomous driving R&D, along with safe applications and commercialisation.

(Exchange Rate: $1 = 7.1874 Chinese yuan renminbi)