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CaoCao Inc. ( (HK:2643) ) just dropped some big news.
They’ve made two major connected deals worth noting. First up, they are stepping in with a financial guarantee of up to RMB90 million to support their affiliate, Caozhi Automobile, in securing a bank loan. It’s a strategic move aligned with their goal to back their affiliated companies while staying compliant with regulations. The second deal is a partnership called Technology Development (Entrustment) Agreement with Intelligent Transportation Technology Innovation, a arm of Geely Holding. This collaboration is set to kickstart the creation of a Robotaxi Autopilot Service Platform, showcasing CaoCao’s dedication to pushing forward autonomous vehicle tech. These initiatives clearly illustrate how CaoCao is ramping up its presence in the industry and pushing for advanced technological solutions.
About CaoCao Inc.
CaoCao Inc., based in the Cayman Islands, is immersed in the automotive sector. They focus on giving financial backing and fostering tech development, particularly zeroing in on connected transactions and innovative technologies in transportation.
Average Trading Volume: 1,352,019
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