Banma Technologies, a China-based Internet car solution provider, announced on September 13 that it has raised over RMB 1.6 billion in the first financing round, which was led by SDIC Fund Management Company Ltd.

BYD and Baidu cemented their partnership at BYD’s Worldwide Developer Conference on August 9, working together to achieve the volume production of autonomous vehicles over the next three years.

Honda is ambitious to boost its car-sharing business in China, seizing the opportunity from the industrial transition in the world’s largest auto market, said Yusuke Hasegawa, executive vice general manager of Honda Motor (China) Investment Co., Ltd.