Share Price Surges, CaoCao Accelerates Robotaxi Commercialization with Driverless Testing, Shanghai Deployment and Global Expansion Strategy

CaoCao Inc. (02643.HK), a Hong Kong-listed mobility platform, is rapidly advancing its Robotaxi commercialization strategy, marking a shift from traditional ride-hailing to autonomous driving services. The company received approval in May 2026 to conduct driverless road testing in Hangzhou, a critical step toward full commercial operations. Following this, CaoCao announced plans to deploy 100 Robotaxis in Shanghai by partnering with Shanghai International Automobile City, while also developing a purpose-built autonomous vehicle model tailored for global right-hand-drive markets, including Hong Kong. The company’s progress has fueled investor optimism, with its share price surging over 22% in two trading days to close at HKD 28.6 on May 22. This rally reflects growing confidence in CaoCao’s role as a key player in China’s autonomous mobility sector, especially after Tesla’s announcement of expanding its FSD (Supervised) service in China. Analysts suggest CaoCao’s long-term value lies in its ability to integrate hardware, software, and operational infrastructure for scaled Robotaxi deployment. Unlike pure technology firms, CaoCao operates as a full-capability ecosystem, combining Geely Holding Group’s vehicle customization expertise with its own intelligent driving technologies and operational systems. The partnership ensures hardware reliability and cost control, while CaoCao’s decade of urban mobility experience provides a robust foundation for asset management and user services. This integrated approach positions CaoCao to deploy Robotaxis more efficiently than competitors once commercial expansion begins. The company’s recent milestones underscore its accelerated commercialization. In April, it became the first in Hangzhou authorized for driverless testing, validating its autonomous driving system’s safety and regulatory readiness. The approval also strengthens its credibility for securing similar permissions in other cities. CaoCao’s strategic focus on closed-loop operations—spanning vehicle design, AI-driven navigation, and end-to-end service management—distinguishes it in the competitive autonomous mobility market.