A man rides a bicycle of bike-sharing firm Hellobike amid Hellobike bicycles placed on a plaza a day ahead of the World Car Free Day, in Zhengzhou, Henan province, China, September 21, 2018. REUTERS
BEIJING, (Reuters) – China’s bike-sharing platform Hellobike announced on Monday the setup of a new robotaxi firm jointly with Ant Group and CATL.
Hellobike said in a statement that the three parties have invested over 3 billion yuan ($417.40 million) in the new firm as an initial investment.
The new firm, registered in Shanghai on Monday, will focus on level 4 autonomous driving R&D, safe applications and commercialisation.
Reporting by Beijing newsroom; Editing by Sonali Paul
