Alibaba invests $300 Mn investment into Chinese autonomous driving start-up DeepRoute.ai

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Alibaba has led investments worth more than $300 million into Chinese autonomous driving start-up DeepRoute.ai. The start-up makes the self-driving systems for vehicles that involve hardware and software. DeepRoute.ai runs a fleet of autonomous taxis with some operated by its partners including ride-hailing firm CaoCao and automaker Dongfeng Motors.

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Alibaba's involvement in the funding round underscores the ambitions of China's technology giants to get a foothold in the area of driverless cars. Alibaba is already an investor in another Chinese autonomous driving car start-up called AutoX and is backing electric vehicle maker Xpeng.