On Monday, Great Wall Motor-backed Chinese self-driving car startup Haomo.ai unveiled the latest generation of its autonomous delivery vehicle, priced at RMB 89,999 ($12,767), which the company claims makes it the cheapest in the industry. The robot features autonomous driving capabilities suitable for navigating busy city streets in China, as well as a versatile interior design. It is equipped with Qualcomm’s dual artificial intelligence processors and a sensor suite comprising seven cameras and three lidar units. Haomo.ai expressed confidence in the widespread adoption of the technology given the relatively low price point, a bullish statement that follows some high-profile restructuring in the sector in recent weeks. Haomo.ai’s announcement follows news of tech giant Alibaba scaling back its autonomous vehicle plans and US counterpart Nuro announcing layoff plans to streamline costs. [Haomo.ai announcement, in Chinese]