Ontime accelerates autonomous driving products

Ontime, a mobile transportation technology and service company based in Guangzhou, the capital of Guangdong province, will accelerate application of commercialized autonomous driving products, after finishing its second round of financing, the company said.

The company completed a B-round financing worth of 842 million yuan ($117.29 million) on Wednesday, with participation of multiple industry funds and financial investors.

It was also the first financing achieved by a domestic mobile transportation company in 2023.

The company, affiliated with Chinese automobile company GAC Group, will also further construct a fully open autonomous driving operation technology system, the company said in an announcement.

Ontime has signed an agreement with autonomous driving service provider Pony.ai and the administrative authority of the Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in Qianhai to soon launch fully unmanned robotaxi services in Qianhai of Shenzhen, Guangdong.