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Ruqi Mobility plans to make use of the current funding to construct a fleet of over 200 robotaxis. | Supply: Ruqi Mobility
Ruqi Mobility, a trip hailing startup and subsidiary of Guangzhou Vehicle Group (GAC Group), introduced that it introduced in $153 million (1 billion yuan) in Sequence A funding. GAC Group, a Chinese language car firm, led the funding spherical.
The spherical additionally included participation from business leaders, like Pony.ai and WeRide, in addition to SPARX, Ruisheng Asia, Guangzhou Industrial Funding Group, Lingnan Enterprise Journey Group and Industrial Management Capital. Earlier this week, Pony.ai acquired a license to function an autonomous automobile taxi service in China. It plans to launch a fee-charging robotaxi service in Guangzhou this yr.
“Within the earlier stage of improvement, the business centered on the enhancement of algorithm capabilities and automobile {hardware}. However with the event of applied sciences, our emphasis is shifting towards autonomous driving.” Jiang Hua, CEO of Ruqi Journey, stated. “Due to this, two world-leading autonomous driving expertise corporations have chosen to speculate strategically in Ruqi Journey on the similar time on this spherical.”
Ruqi plans to make use of the funding to speed up the event of its autonomous robotaxi companies. By the top of the yr, the corporate plans to broaden its fleet to over 200 automobiles. Ruqi additionally plans on increasing its fleet of related vehicle-to-everything (V2X) automobiles to greater than 1,000 automobiles.
The startup hopes the current spherical of funding will appeal to new buyers, serving to the corporate to construct a community of buyers from a wide range of backgrounds.
Ruqi presently has operations in a wide range of areas in southern China, together with Guangzhou, Foshan, Zhuhai, Shenzhen and Dongguan. The corporate hopes to grow to be an essential participant in China’s better bay space, which is a hub for enterprise that integrates Hong Kong and Macao with municipalities in China’s Guangdong province.
The corporate was based in June 2019, and hopes to broaden past southern China sooner or later. GAC Group additionally just lately made a strategic funding in WeRide to additional the joint improvement and manufacturing of a fleet of purpose-built robotaxis.
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