T3 Go nabs hundreds of millions of yuan in A+ round financing from Hongtai Aplus

Beijing (Gasgoo)- In a recent development, T3 Go, the Chinese online ride-share platform, has successfully secured hundreds of millions of yuan in A+ round funding from Hongtai Aplus, according to the investor.

Photo credit: T3 Go

The funds raised in this round will be primarily utilized to expand the user base and enhance operational capabilities of T3 Go. Additionally, a considerable portion of the proceeds will be allocated towards incubating ecosystem products and services and the R&D of the company’s autonomous driving commercialization platform.

Notably, since concluding its impressive 7.7-billion-yuan A round financing in 2021, T3 Go has consistently secured over 1 billion yuan in A+ round financing. The company is currently pursuing Pre-IPO round financing ahead of its planned Initial Public Offering (IPO), with intentions to eventually launch dual listings on both the Hong Kong Stock Exchange and the A-share market.

T3 Go, established in 2019, is a national-level intelligent mobility platform initiated by three Chinese ministries, namely, the Ministry of Industry and Information Technology, the State-owned Assets Supervision and Administration Commission, and the Ministry of Science and Technology. It was founded collaboratively by leading industry players such as FAW Group, Dongfeng Motor, Changan Automobile, Tencent, and Alibaba.

Presently, the platform's services have reached more than 120 cities across China, including Nanjing, Shanghai, Guangzhou, Shenzhen, Chengdu, and Hangzhou. With a daily order volume exceeding three million, T3 Go boasts an impressive user base of over 200 million registered users, having facilitated over 1.4 billion safe trips to date. 

In April of this year, T3 Go unveiled its ambitious "1521" strategy, which aims to achieve a daily order peak of ten million, a revenue target of 50 billion yuan, expand its services to over 200 cities nationwide, and operate 1,000 L4 autonomous driving vehicles by the end of 2026.