CaoCao: Asset Management to Decide Autonomous Driving Race, Targets 100k Driverless Cars by 2030

Hongzhou, China, 16th Apr 2026 - As competition in China's robotaxi sector intensifies, CaoCao(02643.HK), the ride-hailing platform backed by Geely Holding, is striving to become a top-tier industry operator. In a recent exclusive interview, Gong Xin, the company's Chief Executive Officer, disclosed that CaoCao aims to deploy 100,000 autonomous vehicles by 2030, enhancing operational efficiency through end-to-end control over vehicles, technology and operations.

Gong Xin believes the future of robotaxis hinges on an asset management model built around the closed loop of "vehicle manufacturing, autonomous driving technology and fleet operations". CaoCao's initial fleet of 100 autonomous robotaxis has been put into service in Hangzhou at the end of 2025. The company plans to achieve fully driverless operations this year, whereas most autonomous vehicles in China still require human safety supervisors. On April 1, CaoCao received approval to conduct unmanned road tests in Hangzhou, becoming the first company to obtain such a permit in the city.

At the core of CaoCao's strategy is a fully purpose-built robotaxi developed over the past two years. Engineered from scratch for autonomous driving with highly integrated software and hardware, the model is scheduled to debut this year and enter mass production in the first half of 2027. To support its operations, the company is upgrading Geely's battery-swapping network to build "Green Intelligent Mobility Hubs", which will act as docking and maintenance stations for robotaxis and reserve space for future eVTOL (electric vertical take-off and landing) aircraft. CaoCao plans to roll out these hubs across five to six Chinese cities this year.

Gong Xin noted that asset management capability underpins cost control and operational efficiency, helping the company record its first quarterly profit in the fourth quarter of 2025. "The essence of robotaxis in the future is the asset management business model. What we care about most is whether the overall total TCO (cost of ownership) is low enough."

For overseas expansion, CaoCao has positioned the Middle East as its key hub. The company signed an agreement last November to deploy robotaxis in Abu Dhabi and establish a regional office. Gong Xin revealed that the vehicles are expected to hit the road by the end of this year, and the company's asset management model can be rapidly replicated in suitable markets.

Contact Details

Organization: Caocao Inc.

Contact Person: Jing Liu

Website: http://caocao.com.cn

Email: Send Email [https://dashboard.kingnewswire.com/release-contact/44084]

City: Hongzhou

Country: China

Release Id: 16042644084

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