Didi’s autonomous vehicle arm raises $149M from state investors

News Snapshot:

When Didi created an autonomous vehicle subsidiary in 2020, the venture was seen as a Chinese counterpart to Uber’s AV unit. The tides of change have since swept across China’s tech landscape, where internet firms went through a wave of regulatory crackdown and foreign investments dwindled amid worsening U.S.-China relations. Didi’s AV unit remained in the shadow during Beijing’s data security probe into its parent firm, but it has finally weathered the storm, now freshly pumped with financing. Previously backed by SoftBank, Didi Autonomous Driving announced today that it will receive up to $149 million in funding from two investors...