financetom
Business
financetom
/
Business
/
China's Didi, GAC Aion to mass produce robotaxis next year
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China's Didi, GAC Aion to mass produce robotaxis next year
Apr 8, 2024 12:54 AM

(Reuters) - Chinese ride-hailing giant Didi Global said its self-driving unit's joint venture with EV maker GAC Aion has received a license to mass produce electric robotaxis in the country, and that it plans to sell the cars from next year.

Andi, the joint venture between DiDi Autonomous Driving and GAC Aion, will roll out a crossover electric sports utility vehicle (SUV) as its inaugural model and will produce the first batch in 2025, the company said in a statement on Sunday.

"The joint venture has positioned us as a pioneer in the autonomous driving industry, enabling us to lead the creation of an early L4 commercial route and the world's initial closed-loop business model for L4 development that encompasses technology, smart manufacturing and operations," said Zhang Xiong, deputy general manager of GAC Aion.

The company did not specify which authority issued the license.

The Andi joint venture was set up last year, when it also got funding of about $149 million from two investors affiliated with the municipal government of Guangzhou.

Tesla will unveil its robotaxi in August, CEO Elon Musk said last week after Reuters reported the EV maker dropped plans to make an inexpensive car and instead would develop self-driving robotaxis on the same small-vehicle platform.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Bombardier to Confirm 2025 Objectives, Detail Growth Levers Through 2030 as Part of Investor Day
Bombardier to Confirm 2025 Objectives, Detail Growth Levers Through 2030 as Part of Investor Day
May 1, 2024
07:51 AM EDT, 05/01/2024 (MT Newswires) -- Bombardier (BBD-B.TO) said on Wednesday that it will host its investor day on May 1 during which executives will review the company's performance over the past three years and look at how 2025 commitments will be met. Chief Executive Eric Martel and Chief Financial Officer Bart Demosky will be joined at the company's...
Estee Lauder Companies' Fiscal Q3 Adjusted Earnings, Net Sales Increase
Estee Lauder Companies' Fiscal Q3 Adjusted Earnings, Net Sales Increase
May 1, 2024
07:49 AM EDT, 05/01/2024 (MT Newswires) -- Estee Lauder Companies ( EL ) reported fiscal Q3 adjusted earnings Wednesday of $0.97 per diluted share, up from $0.47 a year earlier. Analysts polled by Capital IQ expected $0.50. Net sales for the quarter ended March 31 were $3.94 billion, compared with $3.75 billion a year ago. Analysts surveyed by Capital IQ...
KKR & Co Q1 Adjusted Earnings, Revenue Climb; Raises Quarterly Dividend
KKR & Co Q1 Adjusted Earnings, Revenue Climb; Raises Quarterly Dividend
May 1, 2024
07:48 AM EDT, 05/01/2024 (MT Newswires) -- KKR & Co ( KKR ) reported Q1 adjusted earnings Wednesday of $0.97 per adjusted share, up from $0.81 a year earlier. Analysts polled by Capital IQ expected $0.95. Total asset management segment revenue for the quarter ended March 31 was $1.39 billion, up from $1.27 billion a year earlier. Analysts polled by...
Verisk Analytics' Q1 Adjusted Earnings, Revenue Rise; 2024 Guidance Reaffirmed
Verisk Analytics' Q1 Adjusted Earnings, Revenue Rise; 2024 Guidance Reaffirmed
May 1, 2024
07:48 AM EDT, 05/01/2024 (MT Newswires) -- Verisk Analytics ( VRSK ) reported Q1 adjusted earnings Wednesday of $1.63 per diluted share, up from $1.29 a year earlier. Analysts polled by Capital IQ expected $1.52. Revenue for the quarter ended March 31 was $704 million, up from $651.6 million a year earlier. Analysts surveyed by Capital IQ expected $699.5 million....
Copyright 2023-2026 - www.financetom.com All Rights Reserved