Xiangdao Travel received 1 billion in Series B financing

Xiangdao Travel, a subsidiary of SAIC Motors, has completed a RMB 1 billion Series B financing round, with investors including Momenta. The two parties will work together to develop Robotaxi, using Momenta's "flywheel L4" technology, and operate in Shanghai, Suzhou and other places. Since the launch of Xiangdao Robotaxi in December 2021, user satisfaction has reached 98%. Xiangdao Travel CEO said that the two parties will cooperate for a long time, and Momenta CEO believes that this is a model of cooperation between autonomous driving companies and car companies and operating platforms.