(JW Insights) Oct 16 -- The autonomous driving unit of Chinese ride-hailing giant Didi Chuxing said it has received a $149 million investment from a yuan-denominated fund set up by carmaker GAC Group to boost research and development and the commercialization of its technologies, reported Yicai Global on October 13.

Voyager Group will use the funding to hike spending on research and development as well as speed up the large-scale commercial use of its self-driving technologies and the construction of open and sustainable industry ecosystem platforms, it announced on October 12, without disclosing any ownership changes.

To invest in Voyager, GAC subsidiary GAC Capital and Guangzhou Development District Investment Group set up a special yuan fund with up to $155 million, the Guangzhou-based firm said on the same day. GAC Capital's unit Yingpeng Investment Management will be the fund's manager and executive partner, it added.

In May, GAC Aion, the carmaker's new energy vehicle marque, and Voyager announced that they will launch the Aidi, an autonomous NEV mass production project, and set up a joint venture, reported Yicai Global.

GAC and Voyager plan to debut their first mass-produced Level Four self-driving NEV in 2025 and connect it to Didi's vehicle-sharing network. The car will be based on GAC Aion's electric vehicle platform and electrical architecture and use Voyager's self-driving technology.

Didi founded its autonomous driving business in 2016 and set up its first overseas artificial intelligence lab in California in 2017. The Beijing-based firm strengthened its focus on self-driving in August 2019 when it turned the business into a standalone unit to research and develop autonomous driving, apply the firm's products, and further expand the segment.

Voyager focuses on developing and using L4 autonomous driving technologies and expanding related businesses in vehicle-sharing scenarios. It has obtained licenses for self-driving auto testing on open roads in Beijing, Shanghai, and Guangzhou, as well as in California, according to the Yicai Global report.

(Li PP)