Hello, Ant Group and CATL form joint venture for Level 4 robotaxi development, raising 3+ billion RMB

Hello (Hellobike / Ant Group / CATL)

Hello (the Alibaba-backed bike-sharing platform), Ant Group (Alibaba's fintech arm) and CATL (battery and energy storage company) formed a joint venture to develop and commercialize Level 4 autonomous driving technology. The three founders invested over 3 billion RMB ($424 million) in the initial phase to build the robotaxi business.