Didi Chuxing (滴滴出行), often unfairly dubbed the “Uber of China” (given Uber’s retreat from the Chinese market) has decided to establish its self-driving operations as a separate company as it prepares for the long-haul and seeks to raise funds.
As Didi’s ride-hailing business is not yet generating profits, it makes sense to break-out the self-driving unit in order to attract investors seeking to gain access to China’s driverless vehicle market that is estimated to be worth trillions of dollars by 2040.
Financial Times: https://www.ft.com/content/3beda7a8-b752-11e9-96bd-8e884d3ea203
Nikkei Asian Review: https://asia.nikkei.com/Business/China-tech/Like-Uber-China-s-Didi-spins-off-self-driving-arm2
Venture Beat: https://venturebeat.com/2019/08/05/chinas-didi-chuxing-spins-off-autonomous-driving-unit/