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Volvo to supply Chinese ride hailing giant Didi with autonomous driving cars

As the autonomous driving race in China heats up, Didi is rushing to expand its car fleets by picking Swedish automaker Volvo, an old partner of Uber, as its ally. Didi said on Monday it will be using the XC90 SUVs of Volvo, which has been owned by Chinese auto company Geely since 2010, for its network of robotaxis in the long term. Didi created a subsidiary dedicated to autonomous driving last year and the unit has since raised about...

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Jack Ma’s Ant called to end anti-competition in payments

The details for Ant’s overhaul have arrived. Ant Group, the fintech affiliate of Alibaba controlled by Jack Ma, will become a financial holding company that will bring more regulatory scrutiny over how it lends and generates profits, China’s central bank said on Monday. Ant started as an online payments processor for Alibaba marketplaces and has over time blossomed into an empire of payments, lending, wealth management and...

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TuSimple’s IPO filing reveals roadblocks for self-driving startups with Chinese ties

While the governments of the United States and China are pushing policies for technological decoupling, private tech firms continue to tap resources from both sides. In the field of autonomous vehicles, it’s common to see Chinese startups — or startups with a strong Chinese link — keep operations and seek investments in both countries. But as these companies mature and expand globally, their ties to China also come under...