SHANGHAI:
Haomo.AI, a Chinese language autonomous driving startup managed by Nice Wall Motor’s Chairman Wei Jianjun, has raised practically 1 billion yuan ($157 million) in a funding spherical as traders improve bets on sensible automotive applied sciences.Haomo will use the funds raised from traders – equivalent to Hillhouse Capital’s early-stage funding unit GL Ventures, Meituan, Qualcomm Ventures and others – to construct its expertise pool and improve its R&D functionality, the corporate mentioned in a press release on Wednesday.
The corporate didn’t present particulars on valuation.
Automakers and expertise companies are investing billions of {dollars} in autonomous driving, aiming to take an early lead in what many contemplate the way forward for mobility.
Basic Motors Co introduced in September that it could make investments $300 million in Chinese language autonomous driving startup Momenta to develop self-driving applied sciences for future fashions in China, its first such tie-up on this planet’s No.1 automotive market.
Different world automakers even have tie-ups with Chinese language companies within the nascent expertise. Toyota Motor is testing automobiles with Pony.ai, Nissan Motor works with WeRide, whereas Honda Motor has teamed up with AutoX.
Haomo, previously generally known as the clever driving division of Nice Wall Motor, mentioned it anticipated to make its Degree 2 semi-autonomous driving system, which requires supervision by a human driver, out there in 34 automobile fashions by the top of 2022.
The system is at present out there in 5 Nice Wall Motorcar fashions.
Haomo additionally produces Degree 4 autonomous driving logistics automobiles that may deal with all points of driving in most circumstances with no human intervention to ship groceries and parcels with companions together with Meituan.
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Different high-profile firms concerned within the Sequence B spherical that raised $56.5 million included German auto provider Continental, European planemaker Airbus, Jaguar Land Rover, a part of India’s Tata Motors, in addition to U.S. agricultural equipment maker AGCO.
Beijing-based Momenta mentioned the 2 firms are exploring the applying of absolutely autonomous so-called “Degree 4” driving expertise in city journey eventualities by the trial. Riders can summon a robotaxi by the SAIC Mobility App with one click on, the assertion mentioned.
