Autonomous Vehicles

The company generated RMB 26 million (USD 3.7 million) in revenue in Q2, down by 1% year-on-year.

AIdriving provides various advanced driving assistance systems, driver status monitor systems, and cloud platforms for more than 300,000 vehicles in China.

Telecom giant Huawei runs an optoelectronics R&D center in Wuhan with more than 10,000 employees.

Only two weeks ago, Xpeng Motors raised USD 500 million from investors including Hillhouse Capital.

The move follows EV maker Li Auto’s strong Nasdaq debut.

Li Auto is the second China-based EV maker to go public in the US, following Nio.

In its push towards the Internet of Vehicles, Tencent has teamed up with more than 30 automakers including Mercedes-Benz, Changan, and Geely.

The tests will begin in and around Munich with plans to expand to other areas.