Geely-backed Caocao targets 200,000 autonomous cars under AI overhaul
This pivot comes as it seeks to evolve from a ride-hailing operator into a broader physical AI mobility platform.
This pivot comes as it seeks to evolve from a ride-hailing operator into a broader physical AI mobility platform.
Li also cautioned against the industry’s growing tendency to compress vehicle development cycles.
The filing also highlights the company’s increasing reliance on Geely. Revenue from Geely-related entities increased from 60.8% of total sales in 2023 to 87.2% in 2025.
The launch marks a significant shift for Waymo, which has historically relied on modified production vehicles, toward a purpose-built platform designed specifically for fully autonomous transportation.
The strongest performance came from premium EV brand Zeekr, which delivered a record 34,377 vehicles in May, up 82% from a year earlier and 8.1% from April.
The company’s Mexican subsidiary will deploy dedicated vehicles and establish pickup points at major airports, including Mexico City, throughout the tournament period.
Repeated filings have highlighted challenges such as Hong Kong’s six-month IPO validity rule, the company’s persistent losses and low margins, and regulatory concerns over its heavy reliance on Geely.
Brazil was the largest overseas market for Ningbo’s NEV exports in April, with shipments valued at 2.92 billion yuan, up 361.6% year on year.
On the financial side, many Zhejiang exporters are primarily settling cross-border trade directly in yuan, circumventing dollar-denominated wire transfers.
The company said the data reflects how intelligent driving systems are increasingly becoming standard features for everyday commuting rather than experimental add-ons.