CaoCao Mobility looks to robotaxis for growth after H1 2026 revenue clears RMB 10 billion
CaoCao Mobility reported RMB 10.3 billion (USD 1.53 billion) in total revenue for the first half of 2026, marking a 9% year-on-year increase. The company's mobility services revenue grew 13.9% to RMB 9.8 billion. Operating in 215 Chinese cities, CaoCao saw its average monthly active users rise 17.1% to 44.6 million. The ride-hailing firm is now pushing into autonomous driving with its RoboX strategy, aiming to integrate robotaxis and AI-powered services. It has deployed 140 second-generation robotaxis and plans further expansion in China and overseas.
CaoCao Mobility's pivot to robotaxis and AI, outlined in its RoboX strategy, is a significant development for China's competitive ride-hailing market. While the company posted solid H1 2026 revenue of RMB 10.3 billion and improved gross margins to 9.0%, its future growth hinges on successfully transitioning from traditional ride-hailing to autonomous services. This move reflects a broader industry trend where established mobility players are investing heavily in AI and self-driving technology to secure long-term relevance and efficiency. The company's plans to expand its robotaxi fleet in China and overseas, including initial target markets like Hong Kong and the UAE, suggest an ambitious regional play. The development of Eva Cab, a third-generation robotaxi vehicle with Geely, slated for mass production in 2027, indicates a commitment to proprietary hardware. However, the operational complexities and regulatory hurdles for deploying autonomous vehicles at scale, especially across diverse markets, remain substantial. The success of its AI-based customer interfaces and partnerships, such as with Doubao, will be critical to user adoption and market penetration.
