Chinese web company Baidu is continuing with its push into the auto space after it drove a $195 million course of action B for Shouqi Limousine and Escort.
Chinese web company Baidu is continuing with its push into the auto space after it drove a RMB 1.3 billion ($195 million) Course of action B enthusiasm for Shouqi Limousine and Escort, a branch of the state-had Shouqi Social affair which was Beijing’s at first approved ride-hailing app.
NIO Capital, the hypothesis arm of billion-dollar electric auto startup NIO, and Silk Road Huachuang joined the round, which included RMB 700 million (US$105 million) to a one of a kind RMB600 million (US$88 million) Plan B announced in July.
Shouqi Limousine and Escort do likewise as the name proposes. It rivals ride-hailing creature Didi Chuxing but differs in its approach — jumping at the chance to have its task force of automobiles rather than asking drivers to assert give a vehicle themselves, the approach that Didi, Uber, and others bolster.
As of now, Shouqi claims a naval force of 60,000 cars which cover 53 urban ranges and area transversely finished China. The business has more than 20 million enrolled customers, of which 2.4 million are dynamic, it included. Those figures are dominated by Didi — which states more than 450 million customers — but Shouqi said its limousine and escort business has seen accomplishment by virtue of the way that it holds quick to China’s ride-hailing controls.
By and by with this sponsoring it expects to seek after the electric vehicle publicizes with help from Baidu — which works the Apollo self-driving auto-organize — and NIO’s association and stage. It also plans to take after ring artificial understanding into its organization using Baidu’s DuerOS stage and NIO’s smarts.
Shouq was regarded at $750 million when it closes the primary piece of the round in July but there’s no give an account of that figure following the finish of this second segment.