Autonomous Vehicles

The startup provides a self-driving system priced at about RMB 250,000 (USD 36,151), one of the cheapest of its kind in China.

The startup intends to launch its robotaxi service in Shenzhen, Wuhan, and Wuhu in the near future.

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.