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Chinese self-driving truck startup faces financial woes
Autonomous-driving truck start-up Autra.tech is experiencing financial difficulties, local media report.
The Beijing-based company struggles to sustain its R&D, along with its operations, according to an internal letter from CEO Fei Ding.
In response, Autra.tech has implemented salary cuts for employees.
It has also halted development of new vehicle models and paused acceptance of new orders.
Recent autonomous driving developments
| Timeline |
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04-Nov-2024 🚗 Chinese autonomous driving firm secures $100m for expansion
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12-Dec-2023 🚗 WeRide gets license to test autonomous driving in Singapore
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03-Aug-2023 🚗 In 50 Words: XPeng’s VP of autonomous driving steps down
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03-Nov-2021 🚗 Temasek backs $101m top-up of autonomous driving tech firm
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19-Mar-2021 🚗 Report: Autonomous driving firm Momenta nets $500m from SAIC, others
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