Chinese autonomous driving tech company DeepRoute.ai has secured a $100 million investment from an undisclosed automotive manufacturer to gain a competitive edge over Tesla in China. Founded in 2019 by Maxwell Zhou, a PhD in artificial intelligence, DeepRoute.ai develops systems that leverage AI and machine learning to enable vehicles to learn driving behaviors and adapt to various conditions.
Offering technology similar to Tesla’s Full Self-Driving (FSD) system soon to be launched in China, DeepRoute.ai aims to enhance driving safety and improve the overall driving experience through advanced algorithms and software. Currently, the company’s autonomous driving technology is integrated into 20,000 vehicles, with a target to reach 200,000 by the end of 2025.
In collaboration with its automotive clients, DeepRoute.ai plans to launch over 10 new vehicle models next year. This partnership model allows the company to increase revenue through licensing fees per vehicle. CEO Maxwell Zhou also stated that DeepRoute.ai is exploring opportunities in Europe, Southeast Asia, and the Middle East.
Zhou emphasized that their technology enables the production of smart electric vehicles in China at prices as low as $21,000, offering a significant cost advantage in the market.
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