August 24, 2018
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Waymo sets up Shanghai self-driving car unit in latest effort to expand presence in China
Waymo is beefing up its presence in China. Alphabet Inc's self-driving unit has set up a subsidiary in Shanghai, according to a business registration filing, the latest sign that the U.S. internet giant is attempting to make new inroads into China.
Waymo established a wholly-owned company called Huimo Business Consulting Co on 22 May in Shanghai's free trade zone with registered capital of 3.5 million yuan ($509,165), according to China's National Enterprise Information Publicity System. Its scope includes business and logistics consultancy as well as services related to the design and testing of self-driving car parts, said the document, which also listed the firm's legal representative as Kevin Bradley Vosen.
Waymo did not immediately respond to a request for comment.
Alphabet Inc's Google, which quit China's search engine market in 2010, has been actively seeking ways to re-enter the sector in the country where many of its products are blocked by regulators.
In August, Reuters reported that the company plans to launch a version of its search engine in China that will block some websites and search terms.
Google's Chief Executive Sundar Pichai has told staff that development is in an early stage.
Google has also joined an investment in Chinese live-stream mobile game platform Chushou and launched an artificial intelligence game on Tencent Holdings Ltd's social media app WeChat.
Waymo's move also comes as China makes a major push into autonomous smart vehicles to keep pace with the United States in a global race to develop self-driving vehicles.
Earlier this year, Beijing issued licenses to automakers allowing self-driving vehicles to be road-tested in Shanghai, including Shanghai-based SAIC Motor Corp Ltd and electric vehicle start-up NIO.
Extracted from: www.dailymail.co.uk
