CaoCao Inc. has become the first company authorized to conduct driverless robotaxi road testing in Hangzhou, marking a significant milestone in its autonomous mobility ambitions and strengthening its position in China’s rapidly evolving robotaxi market.
The Hong Kong-listed mobility platform said it received approval in April 2026 to begin public-road testing of robotaxis without a human safety operator on board, a key regulatory step before commercial deployment.
The company described the permit as validation of the maturity and safety of its autonomous driving system and an important foundation for obtaining similar approvals in other Chinese cities.
The authorization comes as CaoCao accelerates efforts to establish itself as a major player in autonomous ride-hailing services, supported by parent company Geely Holding Group.
The Hangzhou approval follows an earlier agreement with Shanghai International Automobile City to deploy 100 robotaxis in Shanghai’s Jiading district during 2026.
CaoCao said the Shanghai deployment will help collect real-world operational data in complex urban traffic environments while supporting further development of its autonomous driving technology.
The company is also positioning Hong Kong as a gateway for international expansion.
Yang Xueliang, Senior Vice President of Geely Holding Group, said CaoCao intends to use the city as a launch platform for entering right-hand-drive markets worldwide.
“Hong Kong will serve as a strategic bridgehead for expansion into global right-hand-drive markets,” said Yang Xueliang, Senior Vice President of Geely Holding Group.
The company plans to showcase what it describes as China’s first purpose-built robotaxi prototype at the International MotorXpo Hong Kong 2026 exhibition.
According to CaoCao, priority markets include the United Kingdom, Australia, India and countries in Southeast Asia, all of which predominantly operate right-hand-drive vehicle fleets.
The company argues that Hong Kong’s internationally recognized regulatory framework and transparent business environment can provide an important proving ground for its autonomous mobility platform before broader overseas deployment.
CaoCao also emphasized that exporting robotaxi services differs from traditional vehicle exports.
Rather than simply selling vehicles, the company aims to export an integrated ecosystem combining autonomous driving technology, operational systems, fleet management and mobility services.
The company’s long-term growth strategy centers on a purpose-built robotaxi model known as Eva Cab.
The prototype was unveiled in April and was developed specifically for autonomous ride-hailing applications.
CaoCao said the vehicle has been designed with a focus on cost efficiency, safety redundancy and simplified maintenance requirements.
Mass production is scheduled to begin in 2027.
The company plans to deploy a cumulative fleet of 100,000 robotaxis by 2030, positioning the vehicle as the foundation of its future autonomous mobility business.
CaoCao describes itself as Geely’s primary commercial robotaxi platform, combining customized vehicles, autonomous driving technologies and intelligent operations within a single ecosystem.
The company also points to its decade of experience in ride-hailing operations and vehicle lifecycle management as advantages over competitors that focus primarily on autonomous driving technology.
Investor interest in the company has increased in recent weeks.
Shares of CaoCao rose more than 22% over two trading sessions through May 22, closing at HK$28.60.
The rally coincided with growing market attention on autonomous driving technologies following announcements by several industry participants, including developments related to advanced driver-assistance systems in China.
Caitong Securities recently initiated coverage of CaoCao with a buy rating and projected that the company’s robotaxi business could generate approximately 15 billion yuan ($2.2 billion) in annual revenue by 2030.
The brokerage expects large-scale commercial deployment to begin after mass production of the company’s dedicated robotaxi vehicle starts in 2027.
CaoCao has also begun laying the groundwork for international operations.
In late 2025, the company signed a memorandum of understanding with the Abu Dhabi Investment Office, which it described as the first step toward building a global robotaxi business.
