CaoCao Inc. reported total revenue of RMB10.3 billion (about $1.53 billion) for the first half of 2026, up 9.0% year on year, and had 140 second-generation Robotaxi vehicles deployed as of June 30. The Hong Kong-listed ride-hailing operator serves as Geely Holding Group’s primary commercialization platform for RoboX, the autonomous mobility strategy it launched in June 2026. The company says it will deploy more Robotaxi vehicles in China and overseas during the second half, with Hong Kong and the United Arab Emirates named as its first international markets.
Highlights
- Mobility service revenue reached RMB9.8 billion (about $1.46 billion), up 13.9% year on year; total revenue rose 9.0% to RMB10.3 billion (about $1.53 billion).
- CaoCao had deployed 140 second-generation Robotaxi vehicles as of the end of the reporting period.
- Average monthly active users rose 17.1% to 44.6 million; average monthly active drivers rose 36.8% to 758,000.
- Eva Cab, the third-generation vehicle designed specifically for Robotaxi service, is scheduled for mass production in 2027.
Ride-Hailing Results Underpin the Robotaxi Push
CaoCao’s core ride-hailing business carried the reporting period. Service coverage reached 215 cities across China as of June 30, with 20 cities added during the first half. The company reports gross margin improved to 9.0% from 8.7% a year earlier, which it attributes to economies of scale from expanding operations and to greater brand recognition.
| Metric | First half 2026 | Change year on year |
|---|---|---|
| Mobility service revenue | RMB9.8 billion (about $1.46 billion) | +13.9% |
| Total revenue | RMB10.3 billion (about $1.53 billion) | +9.0% |
| Average monthly active users | 44.6 million | +17.1% |
| Average monthly active drivers | 758,000 | +36.8% |
| Cities served in China | 215 | 20 added in the first half |
| Gross margin | 9.0% | Up from 8.7% |
On the software side, the company says its transaction engine, CaoCao Brain, continued to refine its algorithms using AI, which it credits with improving supply-demand matching efficiency.
How Does RoboX Fit Into the Business?
CaoCao launched the RoboX strategy in June 2026 alongside a company-wide AI transformation aimed at building a physical AI mobility technology platform. As Geely Holding Group’s primary commercialization platform for RoboX, CaoCao is developing autonomous mobility services spanning Robotaxi, Robovan and other applications.
The strategy rests on three pillars: intelligent purpose-built vehicles, intelligent driving technologies and intelligent operations. The company says it is also extending existing capabilities in vehicle asset operations, mobility dispatch, safety management and user services into a wider set of applications.
CaoCao is expanding its AI-powered entry points as well. As one of the first mobility companies to join the Doubao AI ecosystem, it co-developed an AI ride-hailing service with Doubao and launched a limited pilot in June 2026.
Robotaxi Fleet and the Eva Cab Timeline
The 140 second-generation Robotaxi vehicles deployed by the end of the reporting period form the base for a larger second-half rollout covering both domestic and overseas markets. CaoCao says it is also exploring an integrated air-ground mobility model that would combine Robotaxi operations with low-altitude aircraft.
The next vehicle generation is already in view. CaoCao is working with Geely Group and its partners on Eva Cab, a third-generation vehicle designed specifically for Robotaxi service. The model made its public debut in the first half of the year and is scheduled for mass production in 2027.
Hong Kong and the UAE Lead the Overseas Plan
Internationally, CaoCao has identified Hong Kong and the UAE as its initial priority markets for robotaxi services. In Hong Kong, the company plans to establish a joint venture with Octopus to advance technology-enabled mobility services.
In the Gulf, CaoCao signed a strategic cooperation agreement in June 2026 with K2, a local partner in Abu Dhabi, to jointly advance the deployment and operation of its Robotaxi project.
Looking ahead, the company says it will continue building the ride-hailing business while implementing the RoboX and AI-native strategies, and will deepen its work with Geely Holding Group and partner companies.
