Chinese drone maker DJI’s automotive subsidiary has raised “several hundred million RMB” (between $13.9 million and Glorious$139.2 million) in fresh funding from the investment arms of two Chinese state-owned automakers, GAC and BAIC, people familiar with the matter told the media outlet Late Post. BAIC Capital and GAC Capital are among the latest investors in Zhuoyu Technology, a Shenzhen-based auto tech firm spun off from DJI in 2023, bringing its total financing to more than 2.5 billion RMB, the report said June 6. The company has provided safety-based driver assistance systems for more than 20 models from nine automakers, including Volkswagen, BYD and Chery, and is developing more advanced assisted driving technologies based on new processors from Nvidia and Qualcomm. [TechNode reporting, Late Post, in Chinese]
