Skip to main content

CaoCao: Asset Management to Decide Autonomous Driving Race, Targets 100k Driverless Cars by 2030

Written by Customer Service on . Posted in Public Companies.

HANGZHOU, China, April 16, 2026 (GLOBE NEWSWIRE) — As competition in China’s robotaxi sector intensifies, CaoCao(02643.HK), the ride-hailing platform backed by Geely Holding, is striving to become a top-tier industry operator. In a recent exclusive interview, Gong Xin, the company’s Chief Executive Officer, disclosed that CaoCao aims to deploy 100,000 autonomous vehicles by 2030, enhancing operational efficiency through end-to-end control over vehicles, technology and operations.

Gong Xin believes the future of robotaxis hinges on an asset management model built around the closed loop of “vehicle manufacturing, autonomous driving technology and fleet operations”. CaoCao’s initial fleet of 100 autonomous robotaxis has been put into service in Hangzhou at the end of 2025. The company plans to achieve fully driverless operations this year, whereas most autonomous vehicles in China still require human safety supervisors. On April 1, CaoCao received approval to conduct unmanned road tests in Hangzhou, becoming the first company to obtain such a permit in the city.

At the core of CaoCao’s strategy is a fully purpose-built robotaxi developed over the past two years. Engineered from scratch for autonomous driving with highly integrated software and hardware, the model is scheduled to debut this year and enter mass production in the first half of 2027. To support its operations, the company is upgrading Geely’s battery-swapping network to build “Green Intelligent Mobility Hubs”, which will act as docking and maintenance stations for robotaxis and reserve space for future eVTOL (electric vertical take-off and landing) aircraft. CaoCao plans to roll out these hubs across five to six Chinese cities this year.

Gong Xin noted that asset management capability underpins cost control and operational efficiency, helping the company record its first quarterly profit in the fourth quarter of 2025. “The essence of robotaxis in the future is the asset management business model. What we care about most is whether the overall total TCO (cost of ownership) is low enough.”

For overseas expansion, CaoCao has positioned the Middle East as its key hub. The company signed an agreement last November to deploy robotaxis in Abu Dhabi and establish a regional office. Gong Xin revealed that the vehicles are expected to hit the road by the end of this year, and the company’s asset management model can be rapidly replicated in suitable markets.

Contact Person: Jing Liu   
Email: Jing.Liu3@caocaoglobal.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.