Chinese self-driving truck start-up Autra.tech scales down operations amid cash crunch

Quick Summary:

Financing issues and potential US sanctions prompt Autra.tech to cut salaries of staff, cancel new development and suspend delivery orders.

Chinese autonomous-driving truck start-up Autra.tech rolls out the first batch of 20 AutraOne intelligent vehicles that it co-developed with Dongfeng Liuzhou Motor in May 2024.Photo: Autra.Autra.tech’s troubles reflect the persistent funding challenges many start-ups face in mainland China, as economic headwinds and the lack of an exit path continue to weigh down the country’s venture capital market.

Financing issues and potential US sanctions prompt Autra.

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Article Details

Author / Journalist: Xinmei Shen

Category: Business

Markets: Hong KongChinaUnited States

Topics: Financing Self-driving According Autra Truck Start-up Chinese Operations Autonomous-driving Tech’s Tech

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 20:00:26 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 250 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23429947

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