KUALA LUMPUR, April 1 (Bernama) -- Guotai Junan International Holdings Limited (GTJAI) has successfully participated in the Series B financing of Plus.ai (Plus), the world's leading self-driving truck technology company.
This financing was led by the private equity team of GTJAI, joined hands with investors such as CPE, Hedosophia, FountainVest, ClearVue, SAIC Capital, Sequoia Capital, Manbang Group, Quanta Computer and old shareholders.
According to a statement, the injection of new capital will further assist the global commercialisation of Plus and promote the application of mass-produced self-driving heavy trucks.
The company’s Head of the Private Equity Investment and Managing Director, Peter Chiu said the world's freight industry had a huge potential market.
“Self-driving truck technology can solve many pain points in the heavy truck industry by reducing manual control and bad driving habits, achieving fuel saving and cost reduction and improving use safety, which can help environmental protection and sustainable development.
“GTJAI values the huge truck freight market, Plus's global team, excellent technology and indepth cooperation with global strategic partners, and hopes that through the cooperation with Plus, it will support the accelerated implementation of the truck-assisted driving in trunk logistics scene and automated driving industry.”
At present, Plus has established indepth strategic partnerships with a number of heavy-truck OEMs and logistics fleets.
In China, Plus has assisted FAW Jiefang, a leading commercial vehicle company, to launch a high-level self-driving heavy truck J7 L3, which will be mass-produced and launched in mid-year.
-- BERNAMA
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