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Caocao Auto is the world's first shared‑mobility‑focused custom vehicle brand, jointly created by Caocao Mobility and Geely Holding Group. The brand was officially launched in Suzhou on March 29, 2023, with its headquarters in Suzhou, Jiangsu Province. It represents the strategic convergence of Geely Group's 26 years of vehicle manufacturing experience and Caocao Mobility's seven years of mobility platform expertise. The operating entity is Hangzhou Youxing Technology Co., Ltd.
Geely Group is responsible for vehicle development and production, while Caocao Mobility handles product definition and intelligent development—with a particular focus on functional customisation for smart interaction among drivers, passengers, and vehicles. Caocao Auto is guided by the brand promise of "serving national mobility with heart" and serves as the core hardware pillar in Caocao Mobility's closed‑loop ecosystem of "customised vehicles, autonomous driving technology, and mobility platforms," committed to reshaping green shared mobility through technology.
The birth of Caocao Auto followed a strategic evolution from "mobility platform" to "custom vehicle" to "autonomous driving technology company." On May 21, 2015, Geely Holding Group incubated and established Caocao Zhuanche in Hangzhou. Over time, it underwent multiple financing rounds and strategic expansions, gradually integrating Geely's global platform resources and mobility operations expertise. In February 2019, as the business grew into a diversified mobility service platform, Caocao Zhuanche was renamed Caocao Mobility. In December of that year, it further extended from ride‑hailing operations to an "operations plus manufacturing" collaborative model. Over more than four years of high‑intensity accumulation, Caocao Mobility operated in 24 cities and served a cumulative 150 million users, establishing a full‑service loop covering vehicle scheduling, driver management, and full‑cycle maintenance.
On March 29, 2023, Caocao Auto was officially launched in Suzhou. The brand name echoes the cultural imagery of "speak of Cao Cao and Cao Cao arrives," emphasising speed and responsiveness. The brand follows the "N‑Cube" strategy (N³)—"New Car Customised Vehicle + New Technology + New Ecosystem"—with scenario‑based customisation for shared mobility as its starting point. Its first model, the Caocao 60, was launched simultaneously in two versions: the Caocao 60 and Caocao 60 Pro (priced at 119,800 to 139,800 RMB), pioneering deep customisation in the shared mobility space. In 2024, the Caocao 60 was updated to a 2024 version, adding Basic, Pro, and Mobility trims priced at 129,800, 139,800, and 169,800 RMB respectively. On June 25, 2025, Caocao Mobility was listed on the Main Board of the Hong Kong Stock Exchange (Stock Code: 02643.HK), making it one of the largest technology‑driven mobility platforms listed in Hong Kong.
By the end of 2025, Caocao Auto's second‑generation ride‑hailing vehicle had refined its product maturity and low‑temperature range performance. In April 2026, at the Beijing Auto Show, Caocao Mobility unveiled China's first native L4‑level Robotaxi — Eva Cab — and announced a scaled target of 100,000 cumulative units by 2030, further cementing Caocao Auto's future role in the shared mobility sector.
Caocao Auto's current product matrix is centred on the Caocao 60 series, while also laying strategic groundwork for mid‑to‑long‑term L4 Robotaxi deployment.
Since its launch in March 2023, the Caocao 60 has undergone multiple iterations. Positioned as a pure electric compact sedan, it has been deeply customised across all dimensions to address the pain points of ride‑hailing drivers and passengers. It measures 4,750×1,835×1,655 mm with a 2,800 mm wheelbase, offering a 500‑litre super‑large boot and class‑leading cabin space—earning it the title of "business class for urban shared mobility." On power and safety, it features a vehicle‑cloud integrated intelligent security system and is equipped with self‑developed anti‑motion sickness technology. In terms of range, it delivers 415 km in a 15°C environment; through electric drive thermal management optimisation, the range achievement rate still reaches 67.27% at -17°C—far exceeding the industry average. It supports 60‑second battery swapping and fast recharging, effectively saving time costs for operating vehicle owners.
Building on these core strengths, the 2024 Caocao 60, launched in September 2024, added Basic, Pro, and Mobility trims priced from 129,800 to 169,800 RMB. The interior was updated to a black‑and‑grey two‑tone scheme with colour‑matched red‑stitched seats and physical air‑conditioning control buttons. According to the 2025 annual report, Caocao Mobility's annual vehicle sales revenue to B‑side mobility platforms reached 1.42 billion RMB, up 63.6% year‑on‑year, with vehicle sales jumping from 8,004 units in 2024 to 15,346 units in 2025.
Caocao Auto is preparing to launch its L4 fully customised autonomous driving model—the Eva Cab. The vehicle was officially unveiled as China's first native‑developed Robotaxi at the Beijing Auto Show on April 24, 2026. Built on a prototype platform originally developed by Geely Group, the Eva Cab is designed from the ground up for L4 autonomous driving scenarios, achieving integrated design in chassis, electrical architecture, and system redundancy—redefining vehicle‑level concepts for efficient Robotaxi operations. The model is scheduled for mass production in 2027 and will serve as the primary vehicle for Caocao Mobility's future autonomous driving services. Caocao Mobility plans to deploy 100,000 fully customised Robotaxi units cumulatively by 2030.
Since the launch of the Caocao 60, it has maintained steady sales growth and gained widespread recognition among both drivers and platform operators. According to automotive sales data, monthly wholesale volumes fluctuated between March 2025 and February 2026. In March 2025, the Caocao 60 reached 2,859 units, with upward adjustments in February and January respectively. Sales in October and November 2025 were approximately 762 and 779 units, before surging to 2,041 units in December. In January 2026, sales registered 0 units—a sharp month‑on‑month drop—though this may be a short‑term disturbance due to changes in data reporting standards or product iteration cycles.
Overall, Caocao Mobility sold 15,346 customised vehicles in 2025, ranking first in national B‑side customised battery‑swap vehicle sales for three consecutive years. It is the customised vehicle brand with the highest standards and the largest delivery volume in the shared mobility market.
On the parent company front, Caocao Mobility's total operating revenue for the full year 2025 reached 20.2 billion RMB, a year‑on‑year increase of 37.7%, with both mobility service revenue and vehicle sales revenue growing rapidly. In the first quarter of 2026, Caocao Mobility expects to achieve overall profitability for the first time since listing, entering a scaled revenue phase.
Caocao Auto's technology system draws on Geely Group's full‑chain intelligent manufacturing base and Caocao Mobility's years of operational data. Under a collaborative model of "manufacturing plus definition," its key technologies continue to lead in areas such as forward custom vehicle development, battery‑swap ecosystems, Robotaxi full‑stack technology, and cockpit intelligence.
The Caocao 60 series is deeply equipped with electric drive thermal management technology optimised for ride‑hailing scenarios, achieving a range achievement rate that significantly outperforms the industry average, especially under low‑temperature conditions. Battery‑swap technology is a core pillar of Caocao Auto's operating ecosystem. The 60‑second swap dramatically reduces vehicle downtime, improving driver income and platform vehicle utilisation.
On the autonomous driving front, Caocao Mobility officially launched the "Caocao Zhixing" autonomous driving platform in February 2025, building the industry's first "F‑Cube" full‑stack self‑developed closed‑loop intelligent driving ecosystem. In September 2025, Caocao Mobility successfully launched the "Caocao Zhixing Number" low‑orbit satellite in partnership with Geely's Shikong Daoyu, becoming the first to fully integrate low‑orbit satellite communication and high‑precision positioning in Robotaxi operations. In early 2026, the Robotaxi 2.0 fleet was equipped with low‑orbit satellite IoT communication terminals. In coordination with the upcoming "Caocao Zhixing RAS Remote Safety Service Platform," it leverages the integration of "sky" (satellite technology) and "ground" (vehicle intelligence) to build a multi‑layered safety redundancy system.
Beyond pure‑vision and multi‑sensor fusion autonomous driving algorithms, Caocao Mobility has also developed technologies such as RAS remote control rescue and remote takeover, enabling pre‑installed mass‑produced Robotaxi models to gradually transition from driver‑side safety personnel to fully unmanned operation. On the cockpit intelligence front, Caocao Auto has deployed smart scenario vehicle control, self‑developed anti‑motion sickness technology, and driver‑side space optimisation, all informed by years of operational and behavioural insights. Its "passenger‑side plus driver‑side" dual‑interaction model has become an industry hallmark.
The overseas expansion of Caocao Auto and the Caocao Mobility platform is a key pillar of the brand's ecosystem. In November 2025, Caocao Mobility signed a Memorandum of Cooperation with the Abu Dhabi Investment Office to establish a regional office and operations centre in Abu Dhabi. The partnership aims to fully export a replicable business model centred on battery‑swap customised vehicles, paired with second‑generation Robotaxi technology, while developing locally adaptive algorithms tailored to the Middle East's high‑temperature conditions and driving habits—jointly building a sustainable transport ecosystem for the future.
In addition, Caocao Mobility's overseas mobility service network now covers approximately 16,000 cities across 42 countries, forming a global online mobility infrastructure.
Looking ahead, Caocao Robotaxi will accelerate its "full‑element overseas expansion," planning to export its three‑in‑one capability—"smart custom vehicles, smart driving technology, and smart operations"—as an integrated package to strategic overseas markets. At the same time, it will deeply integrate overseas vehicle usage, corporate fleet management, and business travel services, contributing Chinese solutions to the development of intelligent urban transport systems worldwide.
Caocao Auto's vision is to become a globally leading Robotaxi operator and a scaled leader in China's shared mobility custom vehicle market. On the product front, Caocao Auto plans to gradually launch a broader spectrum of shared mobility customised vehicle models, with a target of deploying 100,000 fully customised L4 Robotaxi units by 2030, all equipped with continuously evolving autonomous driving systems. Caocao Mobility CEO Gong Xin has said the company plans to gradually roll out Robotaxi hybrid operations in major cities starting in late 2026, and explore a fully unmanned commercial closed‑loop model.
On the technology and operations front, Caocao Zhixing will continue to push autonomous driving toward L4, achieving millisecond‑level response through "vehicle‑road‑cloud integration" and satellite communication technology. Over the long term, Caocao Mobility Robotaxi has set a "Ten Years, Hundred Cities, Hundred Billion" strategic goal: establish five regional operation centres globally over the next decade, cover 100 operational cities, and achieve cumulative GTV of 100 billion RMB.
Caocao Auto will anchor Geely's broader vision of a "new energy vehicle shared ecosystem," strengthening its three core capabilities—global battery‑swap standardised services, intelligent operations, and data connectivity—to reshape the shared mobility value chain through technological innovation and a customised ecosystem.
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