Didi's Autonomous Driving Unit

Didi, the Chinese ride-hailing firm, is seeking to raise fresh funds for its autonomous vehicle technology unit, Didi Autonomous Driving. The unit is aiming for a valuation of $5 billion, according to sources familiar with the matter.

Didi Autonomous Driving has already raised a total of $1.55 billion to date, including a $298 million round in October 2024. The company is now in talks with investors, including a Beijing-based fund, to gauge interest in raising several hundred million dollars more.

The autonomous driving unit is testing a fleet of roughly 200 autonomous vehicles across Beijing, Guangzhou, and Shanghai. However, it has not yet begun commercial robotaxi operations. Didi may use the upcoming funds to continue developing its autonomous vehicle technology and speed up mass production of its electric robotaxis, which are being built in partnership with EV maker GAC Aion.

The first electric robotaxis are set to be produced in 2025. Investor interest in self-driving cars is high in China, following IPOs from WeRide and Pony AI, which have a market capitalization of $4.7 billion and $5.25 billion, respectively.

NEWS FACTORY

Technology