Beijing-based car-hailing platform Shouqi Limousine Chauffeur raised Rmb1.3 billion $196 million from a series-B round of funding, securing new capital to develop self-driving technology in partnership with some of China’s leading technology companies.
Shouqi’s driverless car ambition is underscored by the powerful new investors it drew in the latest funding round, including Baidu and Nio Capital, the private equity firm behind electric car startup Nio.
Baidu, China’s largest search engine operator, is widely regarded as leading the country’s auto-driving push. The internet giant has made it clear that it aims to produce fully autonomous cars by 2019.
Autonomous driving aside, the new...