- General
- November 2, 2020
- 4 minutes read
AutoX Eyes New Funding
Photo credit: AutoX AutoX, a Chinese self-driving startup backed by investors including Alibaba, is in discussions with prospective investors to…
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| Photo credit: AutoX |
AutoX, a Chinese self-driving startup backed by investors including Alibaba, is in discussions with prospective investors to fund its fleet expansion and development as the company looks to begin conducting autonomous driving tests in four more cities. The company is seeking new funds to cater to tests in new cities including China’s Beijing and western Chonqqing, according to the company’s CEO Xiao Jianxiong.
Already, AutoX has a fleet of vehicles from various automakers and has conducted tests in the Chinese cities of Wuhan, Wuhu, Shenzhen, Shanghai, and Guangzhou. In July this year, it became the second-ever company after Waymo to get a permit to begin testing driverless vehicles without a safety driver on public roads in the US state of California.
AutoX was founded four years ago and is one of the popular names in the autonomous driving industry. In its relatively short history, it’s raised $160 million in known funding from investors including Chinese tech giant Alibaba, ZhenFund, and Chinese state-owned automaker SAIC Motor.
AutoX is pursuing the Level 4 autonomous driving standard just like many of its peers both in China and abroad. The company works on self-driving technology that’s fitted on ready-made cars such as the Chrysler Pacifica minivan, which is also favored by Waymo.
