FILE PHOTO: Logo of Didi Chuxing is seen at its headquarters building in Beijing, China August 28, 2018. REUTERS/Jason Lee
BEIJING/SHANGHAI (Reuters) – China’s Didi Chuxing said on Friday it had completed a fundraising round of over $500 million for its autonomous driving subsidiary that was led by SoftBank Group’s (9984.T) Vision Fund 2.
The ridehailing giant said in a statement the round marked the first time Didi’s autonomous driving business had brought in external funding since it became a standalone unit last year and was also the single largest fundraising round in China’s self-driving sector.
Didi said it would use the capital to invest further in the research and development of autonomous driving technology as well as testing, and accelerate the deployment of autonomous driving services.
Didi has gained open-road testing licences in California, Beijing, Shanghai and Suzhou, it said. It first began to develop and test autonomous driving vehicles in 2016.
The…
Source Reuters Tech News
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