Didi Chuxing is apparently raising funds for the growth of its autonomous driving unit. The company is seeking to raise 6 billion US Dollars in an attempt to rival Uber, who is trying to diversify beyond its core businesses ahead of an anticipated initial public offering later this year.

According to a SCMP report, the Chinese ride hailing giant is planning on raising about 500 million US Dollars at a valuation of roughly 6 billion US Dollars. As per sources close to the matter, the funds raised will help Didi speed up its mass production of self driving vehicles and invest in technologies like artificial intelligence chips and more. Although, the plans for this fundraising could still change as considerations are at an early stages as per sources.

Unfortunately, a representative from the company declines to comment on this news. The attempt from Didi is an answer to Uber, as the former tries to grow its presence in strategically important sectors like autonomous vehicles prior to the company going public. This is also possible going to be one of the largest tech IPOs across the globe this year.

Furthermore, the company is targeting a valuation above the 62 billion US Dollars it had secured during its latest funding round by accelerating its pace just prior to its debut as a public company within the next quarter. The company began testing autonomous vehicles back in 2016 before separating the unit as a separate company in 2019 and aims on operating over 1 million self driving taxis by the year 2030.

RELATED:

• Chinese AV startups Didi and AutoX set to launch robotaxi pilot programs in May
• DiDi Chuxing Hitch and other online carpooling services suspended in China (UPDATE: Service Resumed)
• Sources confirm Baidu will team up with Geely to manufacture smart EVs

The post Didi seeks to raise $6 billion for its self driving unit: Report appeared first on Gizmochina.

With 5G technology, autonomous vehicles are fast becoming a reality and Chinese firms are at the forefront. Two of China’s leading self-driving car firms Didi Chuxing and AutoX are reportedly set to launch their own autonomous ride-hailing pilot projects. According to a TecNode report, two sources familiar with the matter hinted that the pilot projects will commence in late May in the outskirts of Shanghai.

The projects run separately even though both firms were reported to have commenced their partnerships with the Shanghai government around the same time.

The race to be among the first to launch commercial autonomous ride-hailing cabs have been raging in China with Pony.ai and Baidu at the forefront. AutoX and Didi are aiming to become among the first to get the nod to commercialize its Robotaxi operations.

When contacted to confirm the news, a company representative told TechNode that Didi was actively testing robo-taxi in Shanghai and hopes to launch the pilot service as soon as possible.

On the other hand, AutoX announced Friday, the opening of what it claimed is Asia’s largest robotaxi operations centre in Shanghai. The centre sits in an area spanning 750 square meters and located in the northwestern Jiading district. The operation is expected to collect and process “petabytes” of driving data from road testing in Shanghai each week. In addition, the operation will also be deployed for performance training simulations in a virtual traffic environment. It will also house facilities to test hardware in climate conditions such as high-pressure water and high temperature.

AutoX claims that users “will soon be able to hail a ride” in its autonomous vehicles but the app is yet to be unveiled.

UP NEXT: iPhone SE 2020 price in India confirmed for 64 GB, 128 GB and 256GB Models

(source)

The post Chinese AV startups Didi and AutoX set to launch robotaxi pilot programs in May appeared first on Gizmochina.

UPDATE: Ride Sharing service from Didi between 2300 PM and 0500 AM have resumed since September 15 on a trial special operation plan. Only Express and Premier Drivers with over 6 months of service record and 1000+ safe trips are allowed to serve during this period. This new rule is in effect in addition to the other security requirements. Note that DiDi Hitch is still suspended until the company revamps the service to make it more secure. 

DiDi Chuxing, a highly popular ride-hailing service from China has been indefinitely suspended from carrying out its “DiDi Hitch” carpooling services after the rape and murder of two female passengers. Chinese authorities have also suspended other carpooling services until the firms that run them comply with the safety regulations.

Starting from Sept. 8, DiDi Chuxing has halted its late night Didi Hitch service that runs between 11pm and 5am. The company took the decision to cancel the late night service after the rape and murder of a passenger in August. It is the second such killing after a 21-year older air stewardess was murdered by a driver of the same ride-sharing service.

The driver who was found guilty for the rape in August was the same driver who was reported by a previous female passenger for indecent behavior. However, DiDi had failed to act on the complaint.

The Chinese authorities will be investigating all the other carpooling services and the companies that oversee them. Revised safety policies now require ride-hailing services to show a prompt that reminds riders to access the contact number of emergency services in case of danger. The carpooling apps also need to feature “call police” button that can be immediately used by drivers and riders in emergency situations.

• Read More: Buy Xiaomi CooWoo Car Charger BT Wireless Earphone For Just $27.34 On Cafago [Coupon Code]

Platforms are expected to have all the important details of the drivers such as vehicle registration, routes, locations, passenger’s location in real-time and carry out mandatory background checks so that the information can be handed over to the police when required. Ride-hailing services are expected to suspend those drivers and vehicles by the end of this year that do not comply with the new safety policies

Latest information reveals that DiDi will be hiring only those drivers who pass a mandatory security exam. Further, the company has incorporated strict measures to ensure passenger safety.

DiDi requires all drivers to provide their personal ID, valid driver’s license and vehicle registration certificate, and complete documentation verification and facial recognition when registering with the company. It also works closely with law enforcement authorities to conduct background checks on every driver. Only individuals who pass this process can operate on the platform. At the same time, DiDi mandates repeat background checks for its drivers every three months.

The company also records in-car audio of rides for the safety of its passengers.

The post DiDi Chuxing Hitch and other online carpooling services suspended in China (UPDATE: Service Resumed) appeared first on Gizmochina.