Didi Autonomous Driving Receives More Than RMB 1 Billion in Financing

On October 12, GAC Capital Co., Ltd., a wholly-owned subsidiary of GAC Group, and Guangzhou Development Zone Investment Group Co., Ltd. jointly invested in equal proportions to establish a special fund with a scale of no more than US$155 million or the equivalent of RMB, and invested no more than US$149 million (approximately RMB 1.08 billion) in Didi Autonomous Driving Company. Among them, the company will increase its capital by no more than US$75 million (approximately RMB 547 million) or the equivalent of RMB to its wholly-owned subsidiary GAC Capital Co., Ltd. to establish a special fund and participate in this investment. At present, the two most important projects in its autonomous driving business are KargoBot for autonomous driving freight and the "AIDI Plan" for the Robotaxi field. Cheng Wei, founder, chairman and CEO of Didi Chuxing, holds 90% of the company's shares, and Zhang Bo, CTO of Didi Chuxing and CEO of Didi Autonomous Driving, holds 10% of the company's shares. At the same time, Zhang Bo is the legal representative of the company.