August 3, 2021 / While the global economy has been suffering from the impact of covid-19 since 2020, the autonomous driving market has shown an upward trend in defiance of the headwind. The autonomous driving market in China has been far more active than any other countries in terms of investing and financing. In the commercialization of autonomous driving technology, the 'China speed' is also amazing.
According to statistics, there were over 60 investments and financings related to autonomous driving in China in 2020, which amounts to 46.33 billion yuan according to disclosures, an increase of 136.9% compared to 2019. The momentum continues in 2021. In the first half of the year, there were 69 financings related to autonomous driving, which totals 65.2 billion yuan according to disclosures. In July alone, numerous autonomous driving companies have announced the completion of another round of financing, including HoloMatic, CalmCar and SemiDrive.
It is worth noting that, unlike the U.S. autonomous driving market where hot money goes to the leading companies such as Waymo and Cruise, the investments and financings in the Chinese market are more fragmented and the number of companies that receive financing is also higher. Many investment institutions are not keen to bet on giants, but prefer startups with solid technical strength, clear series production roadmaps and balanced and robust core teams. HoloMatic, who just completed the B1 round of financing, is a perfect example.