Ontime to invest more in driverless innovation

Ontime will use a significant portion of funds it raised from a stock market listing for research and development into autonomous driving technology and robotaxi services, the Chinese mobile transportation services provider said.

The company, established jointly by automobile manufacturer GAC Group and technology giant Tencent as well as other investors in 2019, was listed on the main board of the Hong Kong Stock Exchange on July 10, becoming the first stock in the autonomous driving technology sector.

"We will continue to deepen our presence in the autonomous driving sector by serving and connecting various participants in the mobility industry, and aim to accelerate the commercial operation of autonomous driving technology," said Jiang Hua, CEO of Ontime.