SoftBank Vision Fund 2 Leads $500M DiDi Round
May 29, 2020
Didi Chuxing completed the first fundraising round of over US$500 million for its autonomous driving subsidiary. The investment will enable DiDi to further enhance safety and efficiency by continuing its investment in advanced research and development of autonomous driving technology and testing, as well as deepen industry cooperation, and accelerate the deployment of autonomous driving services in specific areas in China and abroad.
DiDi first began to develop and test autonomous driving vehicles in 2016. In August 2019, DiDi upgraded its autonomous driving unit into an independent company. This is the first time for DiDiís autonomous driving business to bring in external funding since its establishment. Led by SoftBank Vision Fund 2, this is the single largest fundraising round in Chinaís autonomous driving sector.
With increased investments in autonomous driving, Vehicle-to-Everything
(V2X) systems and related AI capabilities, DiDi aims to launch
autonomous fleet operations in select locations as China seeks to build
a comprehensive digital infrastructure network based on 5G, AI and IoT
technologies. DiDi also plans to further deepen cooperation with global
upstream and downstream auto industry partners towards mass production
of autonomous driving vehicles, with the aim of advancing the
transformation of the global automotive and transportation industries.