Was Didi’s 2020 autonomous vehicle subsidiary a Chinese equivalent to Uber’s? Since then, China’s tech landscape has changed, with internet firms regulated and foreign investments plummeting due to U.S.-China tensions. Despite Beijing’s data security probe into Didi’s parent company, its AV unit has survived and received new funding. Didi Autonomous Driving, previously backed by SoftBank, …
When Didi created an autonomous vehicle subsidiary in 2020, the venture was seen as a Chinese counterpart to Uber's AV unit. Didi's AV unit remained in the shadow during Beijing's data security probe into its parent firm, but it has finally weathered the storm, now freshly pumped with financing. Previously backed by SoftBank, Didi Autonomous Driving announced today that it will receive up to $149 million in funding from two investors affiliated with the municipal government of Guangzhou, a southern Chinese metropolis: GAC Group’s wholly-owned subsidiary GAC Capital and Guangzhou Development District Investment Group.
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