• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Chinese Autonomous Vehicle Start-Up Deeproute.AI Gets USD 300 Million in Funding from Alibaba

October 8, 2021 by Steven Burnett Leave a Comment

DeepRoute.ai, a Chinese autonomous vehicle start-up, has received more than USD 300 million in funding from Alibaba. This Shenzhen-based startup develops self-driving systems for automobiles, which include both software and hardware. DeepRoute.ai operates a fleet of self-driving taxis, some of which are managed by partners such as ride-hailing company CaoCao and carmaker Dongfeng Motors. However, the firm is also creating logistics technologies. The participation of Alibaba in the investment highlights the desire of China’s technological behemoths to get a foothold in the field of autonomous automobiles. Alibaba is already a backer of another Chinese self-driving vehicle startup, AutoX, as well as EV manufacturer Xpeng.

Alibaba does have its own logistics unit, Cainiao, which is working on autonomous trucks. DeepRoute.ai’s CEO Maxwell Zhou told CNBC that “the majority of the funding is being invested towards developing this technology and the rest is scaling-up their fleet of vehicles” of its robotaxis. Funds will also be spent on employing additional talent, as per Zhou. According to the CEO, the business presently runs approximately 70 robotaxis and plans to increase its fleet to between 150-160. DeepRoute.ai will control half of the robotaxis, while its partners will handle the other half. According to a press release, the company’s long-term plan involves the development of medium-duty vehicles for urban logistics.

Zhou refused to respond on particular initiatives with Alibaba, but did say that “any opportunity is possible.” DeepRoute.ai earns money from a variety of sources. It may either charge customers for its robotaxi business or split income with a ride-hailing company. Alternatively, it may offer its self-driving technology to manufacturers in exchange for a one-time charge as well as an ongoing service fee. DeepRoute.ai may manage an autonomous vehicle fleet for a firm or sell its autonomous technology in the logistics industry. China’s autonomous driving sector is becoming increasingly competitive. Baidu, the Chinese internet behemoth, and Didi, the ride-hailing service, are both betting on autonomous vehicles. A spate of other Chinese start-ups, like Pony.ai and WeRide, are also investing in this sector. WeRide released a new product called Robovan last week, which is geared for metropolitan transportation, an area that Deeproute.ai is also pursuing.

Steven Burnett
Steven Burnett

Being one of the leading news writers of the medicalmarketreport he writes on other news sites like media.market.us, DailyHeraldBusiness, and many more., Steven holds a specialization in the domains of business and technology. The passion he has for the new developments in connected devices, cloud technology, virtual reality, and nanotechnology is seen through the latest industry coverage which is done by him. His take on the consequences of digital technologies across the world gives his writing a modern and fresh outlook.

Related posts:

  1. Kaiser Permanente Workers Postpone 5-Day Statewide Strike As Death Of CEO Bernard Tyson
  2. President Trump decides to meet Russia’s Lavrov at the White House
  3. McDonald’s Restaurants In The United Kingdom Stop Selling Milkshakes, Bottled Drinks
  4. Amid Crackdown On Tech Giants, JD.com Founder Richard Liu Steps Away From Leadership Position

Filed Under: Business

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • “Nobody Expected This”: Earth’s Rotation Will Speed Up Tomorrow, Bucking The Downward Trend
  • Chimps Are Sticking Grass In Their Ears And Rears As They Embrace “Pointless” Fad
  • Hui Te Rangiora: Old Māori Legend Suggests They May Have Discovered Antarctica 1,000 Years Before Europeans
  • “Potential Impact On Saturn”: Astronomers Appeal For Help As Video Appears To Show Object Hitting The Gas Giant
  • What Is Prosopometamorphopsia? The “Exceedingly Rare” Condition That Made A Patient See Faces As Dragons
  • Are We In An Enormous Void? It Could Explain What’s Wrong With Our Model Of The Universe
  • Woylies Boing Back Into Western Australia Thanks To Groundbreaking Wildlife Project
  • North America’s Oldest Pterosaur And Turtle Fossils Found In Arizona’s Petrified Forest
  • Proposed “Dark Dwarfs” Near The Galactic Center Could Reveal The Nature Of Dark Matter
  • Watch: 18-Kilometer-High Ash Cloud Looms Over Indonesia’s Mount Lewotobi Laki Laki After “Explosive” Eruption
  • “ShipGoo001”: Mystery Of Entirely New Lifeform Discovered Coating A Great Lakes Ship
  • Rare White Humpback Whale Calf Filmed By Drone Off Australia’s East Coast
  • Who Was Buried At Cave Of Salome: A Female Disciple, Jesus’ Midwife, Or A Princess?
  • “Hidden” Changes To US Health Data Swapping “Gender” For “Sex” Spark Fears For Public Trust
  • Easter Island Was Never As Isolated As We Thought – Study Puts That “Strange Argument” To Bed
  • If Birds Are Dinosaurs, Why Are None As Big As T. Rexes?
  • Psychologists Demonstrate Illusion That Could Be Screwing Up Our Perception Of Time
  • Why Are So Many Enormous Roman Shoes Being Discovered At Hadrian’s Wall?
  • Scientists Think They’ve Pinpointed Structural Differences In Psychopaths’ Brains
  • We’ve Found Our Third-Ever Interstellar Visitor, Orcas Filmed Kissing (With Tongues) In The Wild, And Much More This Week
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version