Didi’s Self-Driving Unit to Receive $149 Million Investment From State-Linked Firms

What’s new: State-owned automaker Guangzhou Automobile Group Co. Ltd. (GAC) (601238.SH) has announced plans to partner with a local government-owned investment firm to invest up to $149 million in Didi Global Inc.’s autonomous driving unit, in an effort to develop a technology that could eventually allow drivers to be hands-free.

The capital will come from a special fund co-funded by GAC Capital Co. Ltd., GAC’s investment arm, and Guangzhou Development District Investment Group Co. Ltd., GAC said in a stock exchange filing dated Thursday.