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# Chinese SAIC mobility robotaxi raises $148 million in Series B
- URL: https://www.techloy.com/chinese-saic-mobility-robotaxi-raises-148-million-in-series-b/
- Published: 2022-08-17T08:36:29.000Z
- Updated: 2022-08-17T08:36:29.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: Mobility, SAIC Mobility Robotaxi, SAIC automaker, Autotech, SAIC Group, Momenta, Gaoheng Management Consulting, self-driving cars

[SAIC Mobility Robotaxi,](https://www.saicmotor.com/english/latest%5Fnews/service.shtml) an arm of the state-owned SAIC automaker, has raised $148 million in its Series B funding round, to support its aim of launching a robotaxi service in China. 

- The fund will be used to scale its robotaxi service in China, buy and develop more vehicles, improve its ride-hailing app, and advance the capabilities of its self-driving vehicles.
- SAIC Mobility and Momenta are in a partnership to produce and deploy improved autonomous vehicles in China and started with 100-day trials of 60 vehicles in Shanghai and Suzhou, with a record of 98% satisfaction from users.
- The two companies intend to turn their piloting into a commercialized service and deploy 200 vehicles in 2022 in China.
- SAIC Mobility is now valued at over $1 billion in its latest raise led by SAIC Group, with participation from Momenta, Gaoheng Management Consulting, and others.