Aug 16, 2022 08:18 PM

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Tech Insider: China’s New Ride-Hailing Unicorn, Mini-EV Firm’s Drive Into Indonesia

Xiangdao Chuxing's fundraising was led by largest shareholder SAIC Motor, along with self-driving startup Momenta and Gaohang (Tianjin) Management Consulting. Photo: VCG

Xiangdao Chuxing's fundraising was led by largest shareholder SAIC Motor, along with self-driving startup Momenta and Gaohang (Tianjin) Management Consulting. Photo: VCG

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

State automaker’s ride-hailing platform goes unicorn

Xiangdao Chuxing, a ride-hailing platform owned by state auto giant SAIC Motor Corp. Ltd. (600104.SH), has announced the completion of a 1 billion yuan ($148 million) series B funding round that valued it at $1 billion.

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