Chinese battery giant CATL has partnered with Alibaba’s fintech arm Ant Group, as well as bike-sharing platform Hellobike, to make autonomous ride-hailing vehicles, according to an announcement published on Monday, placing them in direct competition with early movers such as Waymo and Baidu. Hellobike, which counts Ant as its largest shareholder with a 36% stake, said the three companies had together set up a joint venture in Shanghai with initial investment of RMB 3 billion ($418 million), focusing on the commercialization of L4 highly autonomous driving technology. Shanghai-headquartered Hellobike said it will leverage the capabilities of CATL when it comes to electric vehicle batteries and skateboard chassis, while Ant is set provide entensive support to the robotaxi business through fundamental research and development for artificial intelligence and robotics. The move comes after Tesla’s robotaxi service began in Austin on June 22. Search engine Baidu is the leading player in the Chinese autonomous vehicle race with a fleet of more than 2,000 robotaxis across the country. [TechNode reporting, Reuters, Hellobike announcement, in Chinese]
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