On August 15, Xiangdao Travel, a strategic mobile travel brand of SAIC Motor, announced that it has completed a Series B financing of over RMB 1 billion invested by SAIC Group, Momenta, Gaohang Management Consulting, and other institutions. The post-investment valuation of Xiangdao Travel has reached 1 billion US dollars, and it has officially entered the ranks of “unicorns” in the industry.
As a leading travel service platform, Xiangdao Travel and Momenta, as a provider of advanced L4 autonomous driving solutions, will jointly deploy the Robotaxi travel ecosystem, continue to accumulate scene data and operational experience, and conduct rapid technical iterations through a data-driven flywheel to provide Leading autonomous driving travel experience, and jointly build a scalable Robotaxi.
Xiangdao Robotaxi applies Momenta’s “flywheel L4” technology, which is a successful business example of win-win cooperation between domestic autonomous driving technology and an online car-hailing platform jointly created by Xiangdao and Momenta. It was officially launched in December 2021 and is now open for operation in Shanghai and Suzhou. It is one of the four major innovative development strategic projects of SAIC Motor and the first domestic L4 autonomous driving operation platform for a car company. The 100-day operation report of Xiangdao Robotaxi shows that the overall user satisfaction rate is 98%, and 80% of users have two or more rides after the first experience.
Zhuang Jingxiong, CEO of Xiangdao Travel, said, “Xiangdao Travel, as the preferred brand for travel in the Yangtze River Delta, has deeply cultivated in the Yangtze River Delta and radiated the whole country, providing Momenta with rich travel operation scenarios and broad business development space. And Xiangdao Travel is backed by SAIC Group. Relying on the advantages of SAIC’s entire industrial chain, it can better leverage the resource advantages of the industrial chain and innovation chain. Momenta’s solid technology accumulation has provided assistance for the intelligent upgrade of Xiangdao Travel’s “full-scenario smart travel complex”. The long-term cooperation and mutual empowerment between Momenta and Momenta can create a flywheel effect beyond the technical level.”
Cao Xudong, CEO of Momenta, said, “As a strategic mobility brand of SAIC Group, Xiangdao Mobility continues to lead the industry’s compliance development and successfully runs a sustainable, profitable, and high-quality business model. While Xiangdao Robotaxi is a ‘mature mobility’ The organic combination of “operational experience” and “leading autonomous driving technology”, the two parties will carry out multi-dimensional co-creation at the level of technology, products, and commercial implementation to meet the more diverse future travel needs of users. We believe that this will also become the autonomous driving company and The industry benchmark for in-depth cooperation between leading car companies and operating platforms, and the future of scalable unmanned driving can be expected. ”
From the perspective of large-scale commercial implementation, as a travel service company rooted in Shanghai, deeply cultivating the Yangtze River Delta and radiating across the country, Xiangdao Travel has mature large-scale compliance operation experience. According to the supervision data of the Ministry of Transport, the rate of order fulfillment for both pedestrians and vehicles in Xiangdao has been ranked first for 7 consecutive months. The online car-hailing business “Xiangdao Special Car” has been rapidly deployed in first-tier and new first-tier cities, and has been deeply cultivated in the “one core and five circles” cities in the Yangtze River Delta, consolidating its status as the preferred brand for one-stop travel in the Yangtze River Delta. “Xiangdao Car Rental” covers 154 cities, and the market share of the long-term rental business remains the first in China. Xiangdao Robotaxi was selected as one of the first batches of Shanghai Intelligent Connected Vehicle Demonstration and Application Innovation Pilots to “Reveal the Leaders” list, and the commercialization innovation was further implemented.
From the perspective of the implementation of large-scale technical products, Xiangdao Robotaxi, which has applied Momenta’s “flywheel L4” technology, can automatically improve Robotaxi’s continuous evolution capability and create more scalable unmanned driving: through Momenta’s full-process “data” Compared with the conventional “rule-driven “, the performance of each module has been improved by orders of magnitude; through the mass production of autonomous driving Mpilot and fully unmanned MSD equipped with a unified technical architecture, data flow and technology flow can be opened up, which is L4 technology Provide “mass data” support; through Momenta’s efficient “closed-loop automation” toolchain, highly automated mining and highly automated labeling of gold data can be performed to achieve efficient automated iteration of massive data processing.
In the future, Xiangdao Travel will work with Momenta to build a scalable Robotaxi, enabling safer, more convenient, and efficient future smart travel with the support of their respective capabilities and advantages.