– Chinese startups such as Deeproute.ai, WeRide.ai, Pony.ai, and Momenta once wooed venture capitalists with high ambitions to build self-driving vehicle fleets.
– Their vision also transformed their laidback tech geek executives into sharp looking business professionals.
– However, the high cost of building their technology became a considerable challenge.

When Nerds Turn Into Sharp Dressed ‘Robo-Taxi’ Tycoons

From Geek to Chic, Chinese AI Startups Had Venture Capitalists Swooning

– At first, Self-driving vehicle startups in China were hot stuff, enjoying a regular influx of cash from venture capitalists.
– Far beyond just geeking out over tech, these startups, including names like Deeproute.ai, WeRide.ai, Pony.ai, and Momenta, hoped to revolutionize the world with fleets of self-driving vehicles.
– Their tech execs even swapped their usual tees for crisp suits as they plunged into the brave new world of robo-taxis.

Mission: Self-Driving Vehicles; Challenge: Seriously High Costs

– The challenge? This futuristic tech wizardry doesn’t come cheap. The costs of pioneering and maintaining self-driving vehicle fleets have proven to be as formidable as a final boss in a video game.

Summary

EMBATTLED GEEKS OF THE AUTO INDUSTRY: A surge of venture capitalist bucks supercharged a quad of Chinese startups into transformer mode, prepping them to unleash a mechanical cavalry of robo-taxis. As their collection of pocket protectors shrank faster than an ice-cream cone in the Sahara, the techies at these startups attempted the impossible: revolutionizing transport and getting their most stubborn coffee stains out of their new sharp suits. Now, they face their most formidable opponent yet: the almighty dollar. Our hot take? Stay tuned, folks. With the epic pocket burning power of self-driving technology, this saga might just be getting started.

Original article: https://techcrunch.com/2023/12/29/china-robotaxi-apply-the-brakes/