{"id":45546,"date":"2021-09-23T06:05:47","date_gmt":"2021-09-23T10:05:47","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=45546"},"modified":"2021-09-23T02:08:16","modified_gmt":"2021-09-23T06:08:16","slug":"alibaba-group-holding-ltd-adr-nyse-baba-participates-in-a-300-million-funding-round-to-boost-deeproute-ai","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/alibaba-group-holding-ltd-adr-nyse-baba-participates-in-a-300-million-funding-round-to-boost-deeproute-ai-45546","title":{"rendered":"Alibaba Group Holding Ltd \u2013 ADR (NYSE: BABA) Participates In A $300 Million Funding Round To Boost Deeproute.ai"},"content":{"rendered":"<p><strong>Alibaba Group Holding Ltd \u2013 ADR (NYSE:\u00a0BABA)<\/strong><span style=\"font-weight: 400;\">\u00a0has channeled funds into a\u00a0 $300 million funding round to support DeepRoute.ai., an autonomous driving start-up in China. The Shenzhen-based start-up has over the years focused on the development of self-driving systems, and it wishes to take its game a notch higher. It has also been operating a \u00a0fleet of autonomous taxis and has been fetching high revenues from the deal.\u00a0<\/span><\/p>\n<p><b>China&#8217;s technology leaders increased participation<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Alibaba\u2019s decision to get involved in the funding round marks the determination of China&#8217;s technology leaders to gain a foothold in the driverless cars segment. It is important to note that the company is already one of the top investors in \u00a0AutoX, which happens to be another Chinese autonomous driving car start-up.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company reveals it has a logistics arm known as Cainiao and plans to make self-driving trucks.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The \u00a0CEO of DeepRoute.ai, Maxwell Zhou, discloses that a large chunk of the money will move to technological advancement. It will use the remaining amount to increase its fleet size. He also claims that they have plans underway to expand the workforce.<\/span><\/p>\n<p><b>Revenue sources<\/b><\/p>\n<p><span style=\"font-weight: 400;\">DeepRoute.ai sources its revenues in different ways, one of those being charging passengers that choose its robotaxi service. The other way has been the sharing of revenue with the ride-hailing firm. In addition, some automakers rely on its autonomous driving system, and it can thus choose to demand a one-time fee as part of its revenue-generating activities. It could also ask for an annual service fee.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The competitiveness in China&#8217;s autonomous driving industry continues to grow wildly, according to reports. For example, ride-hailing app Didi and the Chinese internet\u00a0giant Baidu have been at the frontline of investing in autonomous driving. There are also others investing in the same space, and those are \u00a0WeRide and Pony.ai. All these investors hope to fetch high revenues that will be used in their business expansion.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alibaba Group Holding Ltd \u2013 ADR (NYSE:\u00a0BABA)\u00a0has channeled funds into a\u00a0 $300 million funding round to support DeepRoute.ai., an autonomous driving start-up in China. The [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":43370,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[14155,15723,15724,15725,15726],"stock_ticker":[14153],"class_list":["post-45546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-baba","tag-alibaba-group-holding-ltd-adr-nyse-baba","tag-baba-news","tag-baba-stock","tag-nyse-baba","stock_ticker-baba","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alibaba Group Holding Ltd \u2013 ADR (NYSE: BABA) Participates In A $300 Million Funding Round To Boost Deeproute.ai - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/alibaba-group-holding-ltd-adr-nyse-baba-participates-in-a-300-million-funding-round-to-boost-deeproute-ai-45546\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alibaba Group Holding Ltd \u2013 ADR (NYSE: BABA) Participates In A $300 Million Funding Round To Boost Deeproute.ai - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Alibaba Group Holding Ltd \u2013 ADR (NYSE:\u00a0BABA)\u00a0has channeled funds into a\u00a0 $300 million funding round to support DeepRoute.ai., an autonomous driving start-up in China. 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