DeepWay brands itself as China’s first electric vehicle startup that designs autonomous trucks from scratch for freight delivery, rather than something based on an existing truck model with minor changes.
Jidu will use the proceeds on research and development as the company aims to unveil a concept car in April.
China’s leading search engine Baidu is rushing to lead the race in popularizing driver-assistance features on consumer cars.
Baidu on Thursday unveiled a new robotaxi model, called Apollo Moon, with a manufacturing cost significantly lower than competitors.
The Chinese search engine giant seeks to increase its self-driving advantages in the country’s EV consumption boom.