China’s bike-sharing giant, Hellobike, is partnering with two other prominent companies, fintech leader Ant Group, and battery giant CATL, to launch a new robotaxi service.
The three companies announced on Monday that they have made an initial joint investment of over 3 billion yuan ($417.40 million) into the new venture. The firm, officially registered in Shanghai, signals a major push into the autonomous driving sector.
Its primary mission will be to advance Level 4 autonomous driving technology, focusing on research and development, safety protocols, and eventual commercial rollout.
The powerful alliance brings together expertise from shared mobility (Hellobike), digital technology and finance (Ant Group), and cutting-edge battery manufacturing (CATL), creating a formidable new player in the race to deploy self-driving vehicles.
