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Softbank’s latest China bet is an autonomous delivery startup

Neolix, a startup developing AVs for delivery services, said on Wednesday it has raised ‘hundreds of millions of RMB’ from Softbank Ventures Asia.

The two-year-old company plans to expand its test fleet to more than 100 vehicles by year-end.

Uisee is benefiting from investor interest in Chinese AV startups as the Covid-19 pandemic pushes unmanned transport applications.

WeRide, the first testing fully driverless cars on Chinese open roads, is also promising a fully hands-free minibus.

Xpeng is joining a long list of Chinese tech companies facing a challenging quarter with production cuts and profits squeezed.

Didi is among the world’s top five highest-valued unicorns. Its listing could be one of the biggest IPO this year.

Three years ago funding for AVs was a free for all, but now late-stage startups are getting all the attention as the industry matures.

The logistics industry could see drastic improvements in efficiency should companies adopt self-driving trucks.

The IPO target is half the $100 million placeholder set in October.