Didi Chuxing has set up its autonomous car unit as a new business that remains unnamed for now, with the aim of attracting external investment.
China-based ride hailing service Didi Chuxing has spun out its self-driving vehicle division with an as-yet undisclosed name, the Financial Times reported yesterday.
Didi Chuxing hopes the spinout will attract investors as its own loss-making operation faces a downturn of venture capital activity in China. It did not specify the size of the stake it will look to maintain in the spinout or how much capital it may have invested.
The unit was formed in 2016 and currently employs more…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
