GAC's On Time mobility bags over RMB1 billion, to launch Robotaxis with Pony.ai

Beijing (Gasgoo)- On April 26th, GAC Group-backed mobility platform On Time announced the completion of its series A financing round, raising over a billion yuan. 

Photo credit: On Time

The round was led by GAC Group, and participated by domestic autonomous driving developers Pony.ai and WeRide, SPARX Group, Pilgrim Partners Asia, Guangzhou Industrial Investment and Capital Operation Holding Group, Lingnan Group, and GIIHG. 

According to On Time, the funds will help the company further its “dual-axle drive” strategic layout, and accelerate its Robotaxi commercialization progress. The company plans to use the funds to build a VaaS platform that links the entire industry, enhancing its technology competitiveness globally. 

In addition, On Time plans to build a Robotaxi fleet of over 200 vehicles for demonstration operations and a V2X fleet with more than a thousand vehicles. According to Pony.ai, the company will provide On Time with autonomous new energy vehicles that are powered by its self-developed virtual driver technology and L4 autonomous software and hardware solution. Meanwhile, by virtue of On Time’s high-efficiency ride-hailing platform and massive data, the partners will conduct systematic fleet management, forming a Robotaxi fleet open to the public.

Through the cooperation, users are able to hail a Pony.ai Robotaxi through On Time's mobile application. 

Moreover, On Time has facilitated an one-stop super service platform and opened up its first offline store in Guangzhou. The company will explore the automated aftermarket maintenance field for autonomous vehicles.

Founded in June 2019, On Time provides ride-hailing services for public users and businesses, aftermarket services, and Robotaxi operations in the Guangdong-Hong Kong- Macau greater bay area. The company’s operations currently cover Guangzhou, Foshan, Zhuhai, Shenzhen, Dongguan, accounting for 30% of the user demographic in core cities of the greater bay area.