SAIC Mobility enhances business with Alibaba, CATL funding

The mobility arm of SAIC Motor, China's largest carmaker by sales, has finished its round A financing, raising 300 million yuan from battery maker CATL and e-commerce giant Alibaba.

"The move is an important milestone in our platform's strategic upgrading," said Shanghai SAIC Mobility Technology and Service Co last week.

The two-year old company said with the funding, it will increase investment in data, connectivity as well as safety. It will also further expand its business, improve customers' experience, and offer more mobility choices.

It unveiled an all-new technology strategy, ACTS, which stands for artificial intelligence hub, connected intelligent cockpit, transport and next-generation mobility system, and smart security system.

The company said it will also partner with Alibaba and CATL in terms of autonomous driving, new energy as well as data technologies.

Established in 2018, it has now over 20 million registered users covering more than 20 cities, especially those in the Yangtze River Delta, including Shanghai.

To further expand its business, the company announced last week a flexible car rental service for individual customers.

The service has become available in four cities, namely Shanghai, Nanjing and Suzhou in Jiangsu province, as well as Zhengzhou in Henan province.

So far, it has offered rental services that target companies and individuals, as well as car-hailing services that include both its own fleets and taxies.