Great Wall Motor

Haomo.ai, a self-driving car company backed by Chinese automaker Great Wall Motor, said on Tuesday it raised RMB 300 million ($41.4 million) in a Series B2 financing round involving a Chinese local government. The funding was raised from an investment fund formed by existing investor JZ Capital and the government of the Changxing county in the eastern Chinese city of Huzhou, and comes after it secured RMB 100 million from another local government-backed fund early this year. The company launched an autonomous vehicle platform based on Qualcomm’s Snapdragon Ride chips, according to a Tuesday announcement. [TechNode reporting, Haomo.ai announcement, in Chinese]