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Didi Chuxing raises $500 million from SoftBank

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China-based ride-hailing company Didi Chuxing on Friday said, “It has raised over $500 million for its autonomous driving subsidiary.”

In a statement issued, Didi Chuxing said, “The new round funding was led by SoftBank Vision Fund 2. This is the first time for the company to bring external funding since the establishment of its autonomous driving business.”

“The investment will allow DiDi to further enhance safety and efficiency by continuing its investment in advanced research and development of autonomous driving technology and testing. As well as deepen industry cooperation and accelerate the deployment of autonomous driving services in specific areas in China and abroad,” the statement said.

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