Alibaba leads $300 million funding of driverless car firm

A robotaxi on display.

GUANGZHOU, China — Alibaba has led investments truly worth more than $300 million into Chinese autonomous driving get started-up

The Shenzhen-centered get started-up helps make the self-driving units for motor vehicles that entail components and computer software. runs a fleet of autonomous taxis with some operated by its partners which include trip-hailing agency CaoCao and automaker Dongfeng Motors. But the business is also developing technology for logistics.

Alibaba’s involvement in the funding spherical underscores the ambitions of China’s technological innovation giants to get a foothold in the area of driverless cars. Alibaba is previously an trader in an additional Chinese autonomous driving automobile start-up known as AutoX and is backing electric powered automobile maker Xpeng.

Alibaba also has its possess logistics arm known as Cainiao which programs to acquire self-driving vans.

Maxwell Zhou, CEO of, explained to CNBC that “most of the money is being invested to establish the technological know-how and the rest is scale up the fleet sizing” of its robotaxis. Cash will also go toward hiring a lot more expertise, Zhou added.

The CEO mentioned the business now operates close to 70 robotaxis and desires to expand its fleet to concerning 150 to 160. Half of the robotaxis will be operated by, although the other half will be run by its partners, Zhou reported.

In a press release, the company explained its prolonged-term technique features creating medium-responsibility vans for city logistics, increasing transit for shipments as very well as freight supply.

Zhou declined to remark on any specific jobs with Alibaba, but said “each individual opportunity is probable.”

There are a number of sources of earnings for It can demand travellers for its robotaxi service or income share with a ride-hailing company. Or it can also provide its autonomous driving process to automakers in return for a just one-time payment as nicely as an annual services payment.

In the logistics house, could run an autonomous driving fleet for a organization or again, promote its driverless technologies.

China’s autonomous driving sector is acquiring extremely competitive.

Chinese internet giant Baidu and journey-hailing application Didi are investing in autonomous driving. A slew of other get started-ups in China together with and WeRide are also placing income into that area. Previous 7 days, WeRide launched a new merchandise termed Robovan built for urban logistics, an spot that is also discovering.