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China's Didi, GAC Aion to mass produce robotaxis next year
Reuters
·
1y ago
Medial
Chinese ride-hailing company Didi Global has announced that its self-driving unit joint venture with EV maker GAC Aion has received a license to mass produce electric robotaxis in China. The joint venture, called Andi, plans to sell the self-driving cars from next year and will begin with a crossover electric SUV as its inaugural model. This move positions the joint venture as a pioneer in the autonomous driving industry and aims to lead the development of L4 autonomous vehicles in China. The license issuer was not specified in the announcement.
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China's Didi swings to third-quarter profit, to buy-back $1 billion worth of shares
Economic Times
·
1y ago
Medial
China's Didi Global announced a profit of 107 million yuan ($14.66 million) in Q3, compared to a loss of 2.01 billion yuan a year ago, as domestic demand for mobility services improved. The company also plans to repurchase shares worth up to $1 billion over the next two years. Revenue increased by 25% to 51.40 billion yuan.
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AI titan Nvidia ramps up collaboration with Chinese auto giants
Economic Times
·
1y ago
Medial
Nvidia has expanded its collaboration with Chinese electric car makers, including BYD, to work on the development of autonomous vehicles using AI technology. BYD, the world's largest EV company, will be adopting Nvidia's next-generation AV computer and its all-in-one vehicle control system, DRIVE Thor. Other Chinese EV firms, such as XPeng, Li Auto, ZEEKR, and GAC Aion, have also adopted the Thor platform. Nvidia's infrastructure for cloud-based AI development and training will be utilized by BYD as well. This move strengthens Nvidia's ties with the Chinese EV industry despite restrictions on exporting its powerful AI hardware to China imposed by the US.
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China's Didi Q2 revenue grows as regulatory curbs ease
Economic Times
·
1y ago
Medial
China's ride-hailing giant, Didi Chuxing, reported a 52.6% increase in revenue for Q2, reaching 48.8 billion yuan ($6.65 billion) compared to the same period last year. The company also posted a net loss of 300 million yuan. Didi has been navigating regulatory challenges, including a cybersecurity investigation, and faced delisting from the NYSE last year. However, it has started to recover from these issues and aims to engage more actively with consumers and drivers for the rest of 2023.
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Didi plans 2024 Hong Kong listing in comeback bid
Economic Times
·
1y ago
Medial
China's largest ride-hailing company, Didi Global Inc., is planning to list its shares on the Hong Kong stock exchange in 2023 to recover from its troubled 2021 New York IPO. Didi has improved its relationship with Chinese regulators after an investigation that led to an $1.1 billion fine, partially by reducing its market share from 90% to 70%. Didi's potential Hong Kong listing could benefit investors, including key backer SoftBank. It would also help restore investor confidence in China's private sector, a move supported by Beijing amid economic challenges. Didi has streamlined its focus and cut costs, resulting in narrower losses and revenue growth.
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China’s Didi bounces back from losses caused by Beijing’s crackdown on internet services as it prepares IPO in Hong Kong | Mint
Livemint
·
11m ago
Medial
Didi Global Inc., China's largest ride-hailing company, reported a net profit of 1.4 billion yuan ($196 million) in the June quarter, marking a turnaround from a small loss the previous year. Revenue also increased by 4.1% to reach 50.9 billion yuan. These positive results indicate that the company is recovering from the challenges it faced in recent years, including regulatory fines and being forced to de-list from New York's mainboard. Didi is now preparing for a potential re-listing in Hong Kong.
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Pony, investor Toyota partner to 'mass produce' robotaxis in China
TechCrunch
·
2y ago
Medial
Autonomous driving firm Pony.ai and Toyota are collaborating to develop "fully driverless robotaxis." Backed by $139 million from GAC Toyota Motor Co., the partnership involves Pony.ai equipping Toyota's EVs with its autonomous driving technology and "robotaxi network platform." Despite previous setbacks, including a California permit suspension and legal disputes, Pony.ai, valued at $8.5 billion, is striving to advance in the competitive autonomous vehicle industry alongside other well-funded companies.
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The trouble with Elon Musk’s robotaxi dream
Livemint
·
7m ago
Medial
Elon Musk's robotaxi launch showcased his vision for an autonomous Cybercab that would serve as "individualized mass transit". However, the event was light on details and disappointed investors, with Tesla's share price falling by 9% the following day. While robotaxi services have emerged in various cities, there are still uncertainties surrounding profitability and scaling them to more challenging urban environments. Waymo is currently the leader in the field, with other companies like Cruise, Zoox, and Chinese firms Baidu, Pony.ai, WeRide, and Didi also experimenting with robotaxis. Tesla's approach relies on a "full-self driving" system that uses cameras, but it will need to navigate regulatory approval and address safety concerns. The question of who will own and operate robotaxi fleets also remains unanswered.
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How Salam Kisan Is Pioneering The Indian Agritech Boom With Its Farming Drones
Inc42
·
1y ago
Medial
Mumbai-based agritech startup Salam Kisan offers drone-based soil testing, produce procurement, and marketplace services to farmers. With a user base of 58,000 farmers, the company primarily earns revenue from soil testing and drone services. Salam Kisan aims to secure external funding in the next financial year and is developing an in-house drone manufacturing unit to address operational challenges. The startup plans to introduce AI-powered multispectral and hyperspectral drones in the future and increase the representation of women in its farmer base through participation in the Drone Didi initiative. The agritech sector in India is expected to reach a $24 billion market opportunity by 2025.
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China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 million
Economic Times
·
1y ago
Medial
Chinese electric car company Xpeng will acquire Didi's smart electric vehicle unit in a deal potentially valued at $744 million. Xpeng's shares rose by around 16% following the announcement. As part of the agreement, Xpeng will launch a new A-class model under a brand called MONA, aiming to expand in the mass-market segment. Didi will support the launch by providing access to its mobility market, and the two companies will explore strategic cooperation in various areas. Didi will also acquire around 3.25% of Xpeng shares, with the deal's value dependent on production and sales targets.
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The AI of war: computers and autonomous killing
Economic Times
·
1y ago
Medial
The potential impact of artificial intelligence (AI) on warfare, particularly in the context of China's growing investment in AI technology. It mentions that weapons can be transformed into autonomous systems using AI algorithms, allowing them to locate, select, and attack targets without human intervention. The article also highlights the ethical concerns surrounding autonomous weapons, such as the possibility of mass destruction if they are cheap and easy to produce. Additionally, it explores the use of autonomous vehicles for reconnaissance and surveillance purposes, as well as the importance of data in AI warfare.
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