CATL, Ant Group Launch USD 418 Million Robotaxi Venture in Shanghai

Chinese battery manufacturer CATL has partnered with Ant Group and Hellobike to launch a new autonomous ride-hailing venture, directly challenging industry leaders like Waymo, Tesla and Baidu.

Credit: CATL

The three companies have established a joint venture in Shanghai with an initial investment of RMB 3 billion (USD 418 million), focusing on the commercialisation of Level 4 autonomous driving technology.

Hellobike, which is headquartered in Shanghai and counts Ant Group as its largest shareholder with a 36% stake, announced the partnership on Monday.

Credit: CATL

The new venture will combine CATL’s expertise in electric vehicle batteries and skateboard chassis with Ant Group’s capabilities in artificial intelligence and robotics research and development.

Hellobike will contribute its experience in mobility services to the project, aiming to accelerate the deployment of robotaxis in China.

The announcement follows the June 22 launch of Tesla’s robotaxi service in Austin, intensifying global competition in the autonomous vehicle sector.

Baidu currently leads the Chinese robotaxi market with a fleet of more than 2,000 autonomous vehicles operating across the country.

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• CATL, Ant Group and Hellobike form robotaxi joint venture in Shanghai

• Initial investment totals RMB 3 billion (USD 418 million)

• Venture targets commercialisation of Level 4 autonomous driving

Source: TECHNODE