Hong Kong-listed CaoCao hails fleet-first strategy as China’s robotaxi race gathers pace

Chinese ride-hailing company CaoCao, backed by Geely, is betting on a heavy-asset strategy to emerge as a leading robotaxi operator.

Photo: Handout Chinese ride-hailing company CaoCao, backed by Geely, is betting on a heavy-asset strategy to emerge as a leading robotaxi operator, with plans to deploy 100,000 autonomous vehicles by 2030 as competition intensifies and self-driving technology matures.

In an interview with the South China Morning Post, CEO Gong Xin said the future of robotaxis hinged on an asset-management model built around a closed-loop “trinity” of vehicle manufacturing, autonomous driving technology and fleet operations.

The Hong Kong-listed firm is refining its level 4 autonomous system, with an initial fleet of 100 robotaxis launched in Hangzhou in late 2025.

While most vehicles in China still require a human safety monitor, CaoCao is targeting fully driverless operations this year. “Many local governments in China are highly supportive of L4-related applications, so I believe the technology is approaching a critical inflection point,” Gong said.

On April 1, the company received approval to conduct unmanned road tests in Hangzhou, becoming the first to do so in the city.

The push comes amid intensifying competition with domestic rivals such as Pony.ai and WeRide, as the sector edges closer to large-scale commercialisation.

Central to CaoCao’s strategy is a “fully purpose-built robotaxi” developed over the past two years, designed from the ground up for autonomous driving with tightly integrated software.

The vehicles are expected to debut this year and enter mass production in the first half of 2027.

To support operations, the company is also building out physical infrastructure through so-called “Green Intelligent Mobility Hubs”, repurposing Geely’s battery-swapping network.

The hubs will act as docking and servicing stations for robotaxis and are being designed to accommodate future low-altitude vehicles such as eVTOL aircraft.

CaoCao plans to roll them out across five to six Chinese cities this year.

CaoCao is focusing on the Middle East, with a deal signed in November to deploy robotaxis in Abu Dhabi and establish a regional office.

Photo: Reuters Gong said the heavy-asset approach underpinned cost control and operational efficiency, helping the company turn its first quarterly profit in the final quarter of 2025. “The essence of robotaxi in the future is the business model of asset management,” he said. “What we care ab

原文链接: 南华早报