Chinese ride-hailing giant Didi Chuxing appears to be launching a fundraising spree for its autonomous driving subsidiary in the hope of earning a position in a red-hot industry where self-driving vehicle startups are scrambling for fresh capital to support their technological ambitions.
Didi Autonomous Driving is planning to raise as much as $500 million at a valuation of nearly $6 billion to accelerate mass production of its driverless vehicles and invest in technologies like artificial intelligence chips.
Read original article