ComfortDelGro Signs MOU With Alibaba-backed Hello Robotaxi To Deploy Commercial Robotaxi

ComfortDelGro Corporation

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(RTTNews) - ComfortDelGro Corporation Limited (CDGLY, C52.S), a Singaporean public transport provider, announced that its Chinese unit has signed a Memorandum of Understanding with Hello Robotaxi, backed by Chinese e-commerce giant Alibaba Group Holding (BABA). The companies plan to collaborate on large-scale deployment of commercial Robotaxi in China and overseas markets.

ComfortDelGro's Chinese subsidiary, ComfortDelGro (China) Pte. Ltd., signed the deal with Hello Robotaxi at the 15th Singapore-Guangdong Collaboration Council meeting in Guangzhou.

The companies will deploy and manage Robotaxi services through ComfortDelGro's extensive point-to-point operations.

The partnership will also explore complementary new business areas, including car rental, battery swapping, safety officer training, grid management and maintenance.

ComfortDelGro operates international taxi networks, and autonomous vehicle pilot programs in Singapore and Guangzhou. Hello Robotaxi, backed by Alibaba, Ant Group and CATL, focuses on L4-level autonomous driving research and development as well as commercial application.

Hello Robotaxi, which initiated mass-production of robotaxi in September, is expected to begin commercial operations in up to 10 cities including its first overseas city with a projection to scale its fleet to over 10,000 vehicles by 2026.

The collaboration aims to establish an intelligent dispatching system for a hybrid operational model, enhancing operational efficiency of the transport ecosystem and overall user experience.

With a vision to jointly secure a long-term position in the global smart mobility sector, Yang Lei, Co-founder and Chief Executive Officer of Hello Group, said, "By combining Hello Robotaxi's 800 million users and L4 autonomous technology with ComfortDelGro's expertise in fleet management, we aim to effectively scale Robotaxi operations from technical development to large-scale deployment."

ComfortDelGro, which offers services across 13 countries, earlier this month had reported a 22.4% year-over-year rise in third-quarter profit to $70.4 million, with group revenue improving 12.9% to $1.33 billion compared to the prior year. In China, the company had recorded $21.1 million in revenues.

In the Singapore Stock Exchange, ComfortDelGro shares were trading within the day's range of S$1.44 to S$1.45.