Caocao, Backed by Geely, Launches $49M Private Placement for Robotaxi Project

['Lucas Huang', 'Singaporean Tech Writer', 'Digital Strategist Passionate About Smart City Innovations. Off The Clock', 'He S Either Hunting For The Best Hainanese Chicken Rice Or Cycling Through Marina Bay At Dusk.'] Digital Phablet 2026-01-29 09:38:58

Select Language:Caocao Mobility, the ride-hailing company owned by the founder and chairman of Geely Holding Group, has announced a private placement. ADVERTISEMENTThe company plans to issue up to 12 million shares at HKD32.46 (USD4.16) each, totaling HKD383 million (USD49.1 million). These new shares will represent roughly 2.1% of the company’s total shares. As part of its strategic plan, Caocao has prioritized robotaxi development as a key focus for future growth. This model is scheduled for unveiling later this year, with plans to deploy a total of 100,000 robotaxi vehicles by 2030.