The three parties have invested over 3 billion yuan ($417.40 million) in total in the new firm as an initial investment, Hellobike said in a statement.
The new firm, registered in Shanghai on Monday, will focus on level 4 autonomous driving R&D, safe applications and commercialisation. ($1 = 7.1874 Chinese yuan renminbi)
Discover the stories of your interest
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
