DeepRoute.ai Raises $100M to Challenge Tesla's FSD in China's Autonomous Driving Market

DeepRoute raises $100M in push to beat Tesla's FSD in China | TechCrunch

DeepRoute.ai, a Shenzhen-based autonomous driving technology startup, raised $100 million from Great Wall Motor. The startup aims to get its automated driving systems into as many vehicles in China before Tesla takes off next year, according to a Reuters report. DeepRoute did not publicly disclose the name of its automaker backer, but reports in the Chinese media, including a press release, point to Great Wall Motor. The automaker is one of China's biggest, with new vehicle sales hitting 970,612 in the first 10 months of this year. GWM's presence in Europe is also increasingly growing, as it works with BMW to produce the next Mini EV hatchback. Alibaba-backed DeepRoute originally pursued Level 4 robotaxi R&D and development, but in 2022, the company shifted its strategy to focus on producing Level 2+ and Level 3 autonomous technology instead. (The SAE defines Level 4 systems as ones that can drive themselves in certain conditions without needing a human to take over. Level 2+ and Level 3 are driver assistance systems that require a human to remain attentive and take over when the system requests it.) A spokesperson for DeepRoute told TechCrunch the startup will use the money to develop end-to-end visual-language-action models, which can directly interpret visual and language inputs to make driving decisions without separate steps needed for perception, planning, and control. DeepRoute also plans to use the funds to explore the possibilities for a future robotaxi business globally and to collaborate with more automakers. That last goal seems to be top of mind for the startup, particularly as the Tesla's driver assistance system, called Full Self-Driving (FSD), is gearing up to launch in China and Europe in the first quarter of 2025. China lifted certain restrictions on Tesla vehicles in April, clearing a path for the automaker to roll out FSD, which isn't actually fully self-driving but does perform some automated driving tasks in cities and on highways. DeepRoute is now racing to get its own ADAS into around 200,000 cars in China by the end of 2025, CEO Maxwell Zhou told Reuters. That's a 10x increase from the 20,000 vehicles its tech is deployed in today. The first vehicle model with DeepRoute's system, which has yet to be publicly disclosed, launched in August. Zhou said the tech will come to two more models, including one co-owned by Geely and Mercedes-Benz, this year. DeepRoute charges automakers a technology licensing fee per car and collects data that it uses to train its AI to handle more complicated traffic situations.

DeepRoute raises $100M in push to beat Tesla's FSD in China

DeepRoute.ai, a Shenzhen-based autonomous driving technology startup, raised $100 million from an unidentified Chinese automaker. The company aims to get its automated driving systems into as many vehicles in China before Tesla takes off next year, according to a Reuters report. China lifted certain restrictions on Tesla vehicles in April, clearing a path for the automaker to launch its advanced driver assistance system called Full Self-Driving (FSD) in China. Tesla said in September it plans to roll out FSD in China and Europe in the first quarter of 2025. Alibaba-backed DeepRoute is now racing to get its own ADAS into around 200,000 cars in China by the end of 2025, CEO Maxwell Zhou told Reuters. That's a 10x increase from the 20,000 vehicles its tech is deployed in today. The first vehicle model with DeepRoute's system, which has yet to be publicly disclosed, launched in August. Zhou said the tech will come to two more models, including one co-owned by Geely and Mercedes-Benz, this year. DeepRoute charges automakers a technology licensing fee per car and collects data that it uses to train its AI to handle more complicated traffic situations.

China's DeepRoute.ai raises $100 million as smart driving adoption speeds up

SHANGHAI (Reuters) - Chinese autonomous driving technology developer DeepRoute.ai has raised $100 million from an automaker, the company said on Monday, as it looks to bolster 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 assisted driving system on Chinese roads by the end of 2025, CEO Maxwell Zhou told Reuters in an interview, up from about 20,000 now. The system can navigate urban traffic similar to Tesla's Full Self-Driving (FSD), which the U.S. automaker expects to launch in China in coming months. DeepRoute.ai plans to launch more than 10 models with its automaker clients in 2025, Zhou said. The first model equipped with its system launched in August and two more models, including one under the smart brand co-owned by Geely and Mercedes-Benz, will be delivered to consumers this year, he said. The growing fleet will generate revenue for the company via a technology licensing fee per car and collect data that is key for its artificial intelligence technology to evolve faster to handle more complicated traffic situations, Zhou said. DeepRoute.ai's existing backers include e-commerce giant Alibaba and the sole investor in this fundraising round is a Chinese automaker that the company declined to name. It also did not disclose the valuation of the company after the fundraising. Automakers have been competing to provide more advanced autonomous driving features as a selling point to lure Chinese consumers as a brutal price war extends among hundreds of models in the world's largest auto market. Interest in this area was further spurred this year after Tesla CEO Elon Musk said the U.S. automaker planned to introduce its FSD system in China, its second-largest market. Analysts said the move would force other competitors to grow faster to survive. Zhou said he saw Tesla as a pioneer in bringing advanced learning technology to autonomous driving, but added it would need to adapt to the local market in China. "China has more complicated traffic situations with pedestrians walking on motorways and millions of scooters rushing to deliver their goods," he said. Zhou said his team was also keeping an eye on opportunities overseas such as in Europe, Southeast Asia and the Middle East, anticipating demand for advanced autonomous driving technologies could emerge in 2027 and 2028. DeepRoute.ai, founded in 2019, started developing its autonomous driving system without using expensive high-definition maps in 2020, while many of its peers and automakers were investing heavily on mapping out the streets and highways. This has given it a significant edge in costs that Zhou said could help automakers to build a smart EV to be priced as low as 150,000 yuan ($21,063.27) in China. (Reporting by Zhang Yan and Brenda Goh; Editing by Jamie Freed)

China's DeepRoute.ai Raises $100 Million as Smart Driving Adoption Speeds Up

SHANGHAI (Reuters) - Chinese autonomous driving technology developer DeepRoute.ai has raised $100 million from an automaker, the company said on Monday, as it looks to bolster 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 assisted driving system on Chinese roads by the end of 2025, CEO Maxwell Zhou told Reuters in an interview, up from about 20,000 now. The system can navigate urban traffic similar to Tesla's Full Self-Driving (FSD), which the U.S. automaker expects to launch in China in coming months. DeepRoute.ai plans to launch more than 10 models with its automaker clients in 2025, Zhou said. The first model equipped with its system launched in August and two more models, including one under the smart brand co-owned by Geely and Mercedes-Benz, will be delivered to consumers this year, he said. The growing fleet will generate revenue for the company via a technology licensing fee per car and collect data that is key for its artificial intelligence technology to evolve faster to handle more complicated traffic situations, Zhou said. DeepRoute.ai's existing backers include e-commerce giant Alibaba and the sole investor in this fundraising round is a Chinese automaker that the company declined to name. It also did not disclose the valuation of the company after the fundraising. Automakers have been competing to provide more advanced autonomous driving features as a selling point to lure Chinese consumers as a brutal price war extends among hundreds of models in the world's largest auto market. Interest in this area was further spurred this year after Tesla CEO Elon Musk said the U.S. automaker planned to introduce its FSD system in China, its second-largest market. Analysts said the move would force other competitors to grow faster to survive. Zhou said he saw Tesla as a pioneer in bringing advanced learning technology to autonomous driving, but added it would need to adapt to the local market in China. "China has more complicated traffic situations with pedestrians walking on motorways and millions of scooters rushing to deliver their goods," he said. Zhou said his team was also keeping an eye on opportunities overseas such as in Europe, Southeast Asia and the Middle East, anticipating demand for advanced autonomous driving technologies could emerge in 2027 and 2028. DeepRoute.ai, founded in 2019, started developing its autonomous driving system without using expensive high-definition maps in 2020, while many of its peers and automakers were investing heavily on mapping out the streets and highways. This has given it a significant edge in costs that Zhou said could help automakers to build a smart EV to be priced as low as 150,000 yuan ($21,063.27) in China. ($1 = 7.1214 yuan) (Reporting by Zhang Yan and Brenda Goh; Editing by Jamie Freed)

China's DeepRoute AI raises $100 million as smart driving adoption speeds up

DeepRoute AI plans to launch more than 10 models with its automaker clients in 2025. The growing fleet will generate revenue for the company via a technology licensing fee per car and collect data that is key for its artificial intelligence technology to evolve faster to handle more complicated traffic situations.Chinese autonomous driving technology developer DeepRoute AI has raised $100 million from an automaker, the company said on Monday, as it looks to bolster 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 assisted driving system on Chinese roads by the end of 2025, CEO Maxwell Zhou told Reuters in an interview, up from about 20,000 now. The system can navigate urban traffic similar to Tesla's Full Self-Driving (FSD), which the U.S. automaker expects to launch in China in coming months. DeepRoute.ai plans to launch more than 10 models with its automaker clients in 2025, Zhou said. The first model equipped with its system launched in August and two more models, including one under the smart brand co-owned by Geely and Mercedes-Benz, will be delivered to consumers this year, he said. The growing fleet will generate revenue for the company via a technology licensing fee per car and collect data that is key for its artificial intelligence technology to evolve faster to handle more complicated traffic situations, Zhou said. DeepRoute.ai's existing backers include e-commerce giant Alibaba and the sole investor in this fundraising round is a Chinese automaker that the company declined to name. It also did not disclose the valuation of the company after the fundraising. Automakers have been competing to provide more advanced autonomous driving features as a selling point to lure Chinese consumers as a brutal price war extends among hundreds of models in the world's largest auto market. Interest in this area was further spurred this year after Tesla CEO Elon Musk said the U.S. automaker planned to introduce its FSD system in China, its second-largest market. Analysts said the move would force other competitors to grow faster to survive. Zhou said he saw Tesla as a pioneer in bringing advanced learning technology to autonomous driving, but added it would need to adapt to the local market in China. "China has more complicated traffic situations with pedestrians walking on motorways and millions of scooters rushing to deliver their goods," he said. Zhou said his team was also keeping an eye on opportunities overseas such as in Europe, Southeast Asia and the Middle East, anticipating demand for advanced autonomous driving technologies could emerge in 2027 and 2028. DeepRoute.ai, founded in 2019, started developing its autonomous driving system without using expensive high-definition maps in 2020, while many of its peers and automakers were investing heavily on mapping out the streets and highways. This has given it a significant edge in costs that Zhou said could help automakers to build a smart EV to be priced as low as 150,000 yuan ($21,063.27) in China.

Chinese driver-assist startup announces $100 million in funding, touts 'deep cooperation' with Nvidia

BEIJING -- Deeproute.ai, a Chinese startup developing autonomous driving systems, announced a $100 million funding round Tuesday from an undisclosed automaker, while emphasizing close ties with chipmaker Nvidia. Pitchbook data showed Chinese company Great Wall Motor led the investment. It's been difficult to obtain financing, especially from a non-government source, Maxwell Zhou, CEO of DeepRoute.ai, told reporters Tuesday in Mandarin, translated by CNBC. The startup is also in "deep cooperation" with Nvidia, Zhou said, noting "in-depth discussions" with the chipmaker's CEO Jensen Huang. Zhou spoke on "Commercializing mass-produced autonomous driving solutions" at Nvidia's closely watched GTC AI conference in March.