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DiDi Chuxing’s latest $4 billion financing round to support AI, international expansion and NEV ecosystem

BEIJING – DiDi Chuxing, the world’s leading mobile transportation platform, announced on December 21 the completion of a new equity funding round of over $4 billion to support AI capacity-building, international expansion, and new business initiatives including the development of new energy vehicle service networks. In a testament to strong

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SAIC Capital’s partnership with Plug and Play to speed up efforts to find new industry disruptors

SUNNYVALE, California – SAIC Capital, the venture arm of SAIC Motor, China’s largest automaker by sales, announced on December 7 a strategic partnership with Plug and Play, a global startup ecosystem and venture fund specializing in the development of early-to-growth stage technology startups in 13 verticals. SAIC Capital will be

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WAVE 2017: China to speed up development of ICVs

SHANGHAI – China will speed up development of intelligent connected vehicles (ICVs), according to Xin Guobin, vice minister of Ministry of Industry and Information Technology (MIIT). Xin made the comments in a speech at the 2017 World Autonomous Vehicle Ecosystem (WAVE) Conference held in Shanghai on November 6-7, pointing out

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BAIC Group and Baidu announce strategic cooperation deal to create “AI+Auto” ecosystem

BEIJING – BAIC Group and Baidu signed a strategic cooperation agreement here in the fields of autonomous driving, internet of vehicles (IoV) and cloud service to jointly create what they call an “AI+Auto” ecosystem on October 13. In the area of autonomous driving, the two partners will aim for the

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Industry on the eve of vehicle and internet integratio

The industry is on the eve of integration with the internet, said James Qin, former CEO of Autohome Inc., a vertical portal with the world’s largest online traffic providing vehicle related services. “Internet in its essence is a kind of infrastructure. It is the biggest communication network and most powerful

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Faraday announces strategic partnership with LeTV, unveils FFZERO1 Concept

LAS VEGAS – After weeks of speculations, Faraday Future confirmed its strategic cooperation partnership with LeTV, the Chinese internet company who is in the process of building its own Super Car. The California-based electric car startup officially made the announcement at an event unveiling its FFZERO1 Concept on January 4

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Plenty of questions remain for “LeSuperCar”

Leshi founder and CEO Jia Yueting’s dream of building a “Super Car” and creating an automotive internet ecosystem to solve the country’s smog and traffic congestion problems took one step forward on January 20 when the company announced the LeOS Auto smart car operation system. The announcement at a press

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