BAIC wants to drive along a different road

The Chinese government's encouragement for autonomous driving and alternative vehicles has put pressure on traditional auto manufacturers.
BAIC bought Borgward in 2014.
BAIC bought Borgward in 2014.

Chinese state-backed car manufacturer BAIC Group has joined the first round of fundraising for RoboSense, a manufacturer of autonomous driving light-detection-and-ranging LiDAR products. The startup raised Rmb300 million $45 million from BAIC along with Alibaba’s logistics affiliate Cainiao and SAIC Group, another state-owned car company.

Proceeds will be used to develop solid-state LiDAR as well as related chips and AI algorithms. LiDAR is a remote sensing method that can be used in advanced driver-assistance systems. The equipment emits laser beams and calculates the distance between emitter and obstacle by measuring the reflected pulses.

RoboSense has a more than 50% market share...

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