Robotaxi

This comes a year after it closed its Series C funding round, and the latest valuation represents an increase of about 65 percent from the previous round.

In the fourth quarter of last year, Baidu's robotaxi platform Apollo Go saw about 213,000 orders for manned rides, an increase of nearly 100 percent from the third quarter.

Xpeng will explore the robotaxi business in the second half of 2022, and the subsidiary is likely to be the operating entity for the business.

Baidu's robotaxi service achieves full coverage of four super tier 1 cities in China - Beijing, Shanghai, Guangzhou and Shenzhen.

The number has surpassed its US counterparts, with Alphabet's Waymo's Robotaxi fleet of about 800 vehicles.

Pony.ai will work with FAW to build a fleet of self-driving demonstration operations and collaborate on commercial operations in Guangzhou, Beijing, Shanghai, Changchun and Nanjing.

The production facility is capable of assembling Robotaxis to a high level of precision and consistency, with the vehicles starting to operate autonomously as soon as they leave the facility's gates.

Robotaxi has the largest market space in autonomous driving application scenarios and is also the most challenging in terms of L4 autonomous driving technology, according to CITIC Securities.

GAC and WeRide plan to gradually build a fleet of Robotaxi in the tens of thousands of vehicles over the next few years.

The first 20 Robotaxis, based on SAIC's Rising Auto-branded Marvel R electric SUV, were put into trial operation in Shanghai today.