Chinese autonomous driving company DeepRoute.ai raises $ 300 million from Alibaba and others

BEIJING, Sept. 14 (Reuters) – Chinese autonomous driving startup DeepRoute.ai said on Tuesday it had raised $ 300 million from investors, including e-commerce company Alibaba (9988.HK) to expand its test fleet and develop technologies, in particular autonomous trucks.

Other investors in the funding round include Jeneration Capital, a Greater China-focused technology investor, Chinese automaker Geely (GEELY.UL) and some previous investors, DeepRoute.ai said in a statement. He did not disclose his assessment.

The investment comes as automakers and tech companies invest billions of dollars in autonomous driving, with the goal of quickly taking the lead in what many see as the future of mobility.

DeepRoute.ai rival WeRide, backed by Nissan Motor (7201.T), announced this month that it will develop self-driving vans, while Pony.ai, backed by Toyota Motor (7203.T), has announced earlier that it would develop autonomous trucks. Read more

DeepRoute.ai, which is testing vehicles in the Chinese cities of Shenzhen and Wuhan, will use the funds to double its fleet of its test robot taxis to 150 by the end of this year, from 70 currently, said its general manager Zhou Guang. Reuters in an interview.

It will also increase its workforce to 600, including vehicle safety drivers, by the end of this year, from 400 now.

Founded in 2019, DeepRoute.ai collaborates with automaker Dongfeng Motor (0489.HK) on autonomous driving technologies. It also works with Geely’s carpooling unit, Cao Cao.

DeepRoute.ai will also develop self-driving light trucks for urban logistics services, Zhou told Reuters, adding that Alibaba would be a big customer.

Alibaba announced in June its intention to develop autonomous trucks with its logistics subsidiary Cainiao. Read more

Reporting by Yilei Sun and Brenda Goh; Editing by Muralikumar Anantharaman

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