Hellobike's Leap into Autonomous Driving

Hellobike, together with Ant Group and CATL, has launched a new robotaxi firm in Shanghai with an initial investment exceeding 3 billion yuan. The company aims to advance level 4 autonomous driving technology and its commercialization, marking a significant move in the transport sector.

In a strategic move towards the future of transportation, China's bike-sharing giant Hellobike has announced the formation of a new robotaxi company. This venture is in collaboration with Ant Group and CATL, marking a significant partnership in the mobility industry. On Monday, the firms unveiled a substantial initial investment exceeding 3 billion yuan ($417.40 million).

The newly registered company, set in Shanghai, aims to focus on cutting-edge level 4 autonomous driving research and development. This includes ensuring safe applications and pushing for the commercialization of autonomous vehicle technologies.

This development underscores China's growing emphasis on advancing autonomous driving capabilities, promising to reshape the landscape of urban transportation.

(With inputs from agencies.)