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Chinese autonomous driving company DeepRoute.ai raises 0 million as adoption accelerates
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Chinese autonomous driving company DeepRoute.ai raises $100 million as adoption accelerates

Chinese self-driving technology developer DeepRoute.ai has raised $100 million from an automaker, the company said Monday, aiming to boost mass adoption of its systems on vehicles ahead of Tesla in China.

The Shenzhen-based startup expects nearly 200,000 cars to be equipped with its advanced driver assistance system on Chinese roads by the end of 2025, CEO Maxwell Zhou told Reuters in a interview, compared to around 20,000 currently.

The system can navigate city traffic similar to Tesla’s Full Self-Driving (FSD) system, which the American automaker plans to launch in China in the coming months.

DeepRoute.ai plans to launch more than 10 models with its automaker clients in 2025, Zhou said. The first model equipped with the system was launched in August and two more models, including one under the smart brand jointly owned by Geely and Mercedes-Benz, will be delivered to consumers this year, he said.

Maxwell Zhou, CEO of DeepRoute.ai, poses for a photo at the company's office in Shenzhen on July 27, 2022. Photo: Reuters
Maxwell Zhou, CEO of DeepRoute.ai, poses for a photo at the company’s office in Shenzhen on July 27, 2022. Photo: Reuters
The growing fleet will generate revenue for the company through technology licensing fees per car and collect data critical to its business. artificial intelligence technology must evolve more quickly to handle more complex traffic situations, Zhou said.