As the autonomous vehicle industry in the United States marches towards consolidation, a funding spree continues to exhilarate China’s robotaxi industry. Momenta, Pony.ai, WeRide, and Didi’s autonomous vehicle arm have all raised hundreds of millions of dollars over the past year. 21-year-old search engine giant Baidu competes alongside the startups with a $1.5 billion fund launched in 2017 to help cars go driverless.
Their strategies are similar in some regards and diverge elsewhere. The most significant players have deployed small fleets of robotaxis, staffed by safety drivers, onto certain urban roads and diligently test driverless vehicles inside pilot zones. Some companies embrace lidars to detect the cars’ surroundings, while others agree with Elon Musk on a vision-only future.
The industry is still years from being truly driverless and operational at scale, so some contestants seek more straightforward cases to tackle and monetize first, putting self-driving software inside buses, trucks, and tractors that roam inside industrial parks.
We hope to find out at the upcoming TC Sessions: Mobility 2021, where we speak to three female leaders from Chinese autonomous vehicle startups that have an overseas footprint: Jewel Li from AutoX, which is backed by Chinese state-owned automakers Dongfeng Motor and SAIC Motor; Huan Sun from Momenta, which attracted Bosch, Daimler, and Toyota in its $500 million round closed in March; and Jennifer Li from WeRide, of which valuation jumped to $3 billion after a financing round in May.
We can’t wait to hear from this panel! Among the growing list of speakers at this year’s event are GM’s VP of Global Innovation Pam Fletcher, Scale AI CEO Alexandr Wang, Joby Aviation founder and CEO JoeBen Bevirt, investor and LinkedIn founder Reid Hoffman (whose particular purpose acquisition company just merged with Joby), investors Clara Brenner of Urban Innovation Fund, Quin Garcia of Autotech Ventures and Rachel Holt of Construct Capital, Starship Technologies co-founder and CEO/CTO Ahti Heinla, Zoox co-founder and CTO Jesse Levinson, community organizer, a transportation consultant and lawyer Tamika L. Butler, Remix co-founder and CEO Tiffany Chu and Revel co-founder and CEO Frank Reig.
Stay tuned for more announcements in these final weeks. Book your general admission pass for $125 today and join this year’s deep dive into the world of all things transportation at TC Sessions: Mobility.