Against the backdrop of the global mobility industry accelerating toward the integrated evolution of electrification, intelligentization, and autonomous driving, the focus of industry competition is shifting from single-point technology breakthroughs to systematic capability building. Around this trend, Cao Cao Mobility among the Hong Kong-listed robotaxi stocks is leveraging its years of shared mobility operational accumulation to continuously advance Robotaxi commercialization exploration and accelerate the construction of a technology mobility ecosystem covering multiple scenarios.
As a core component of Geely Holding Group’s “New Energy Vehicle Sharing Ecosystem,” Cao Cao Mobility has gradually transformed from a ride-hailing platform to a comprehensive technology mobility enterprise since its establishment in 2015, and was officially listed on the main board of the Hong Kong Stock Exchange on June 25, 2025 (stock code 02643.HK). As the capitalization process advances, its market attention as one of the Hong Kong-listed robotaxi stocks continues to rise.
Scaled Operational Capability Builds Development Foundation
In the mobility services field, scaled operational capability remains one of the important prerequisites for enterprises to participate in Robotaxi competition.
As of December 31, 2025, Cao Cao Mobility’s service network covers 195 cities nationwide, forming a multi-tier service system covering multiple city tiers. For the full year 2025, the company achieved revenue of RMB 20.2 billion, up 38% year-on-year; gross margin increased 1.3 percentage points year-on-year to 9.4%; Q4 achieved adjusted net profit turning positive for the first time, reaching a profitability inflection point. The company has accumulated over 1.9 billion completed ride services during its long-term operations, providing stable data foundations and dispatching experience support for the Robotaxi business.
In terms of Robotaxi implementation, Cao Cao Mobility has defined a clear “three-step” strategy: the initial phase involves technology validation and small-scale test operations; the current phase will complete the transition from driver-with-safety-officer to unmanned operations, exploring mixed operations of human-driven and driverless vehicles; the future will see fully customized Robotaxi launching comprehensive commercial operations globally.
Currently, Cao Cao Mobility has deployed 100 Robotaxi vehicles for pilot operations in Hangzhou’s Binjiang District, continuously validating autonomous driving service capabilities through real-road scenarios and gradually refining the full-process system from order dispatching to safety assurance. This practice has also given Cao Cao Mobility relatively outstanding operational advantages among Hong Kong-listed robotaxi stocks.
Customized Vehicle System Strengthens Robotaxi Implementation Capability
The vehicle system is an important carrier for Robotaxi commercialization and one of the key variables determining operational efficiency.
During the April 2026 Beijing Auto Show, China’s first purpose-built Robotaxi — the Eva Cab — made its global debut. Cao Cao Mobility deeply participated in product definition and R&D, entirely forward-engineered for autonomous driving operational scenarios with no steering wheel and no front passenger seat design. This model will enter mass production in 2027, with plans to deploy 100,000 vehicles cumulatively by 2030.
In terms of energy and maintenance systems, the world’s first “Green Smart Transit Island” has been officially launched in Hangzhou’s Binjiang District, integrating automatic battery swapping, automatic cleaning, vehicle interior management, intelligent dispatching, and automatic settlement, with reserved eVTOL landing pads and charging interfaces. Cao Cao Mobility has developed replicable construction standards for this, providing systematic infrastructure assurance for scaled Robotaxi operations. Meanwhile, the company’s operational decision system “Cao Cao Brain” continues to use AI technology to optimize algorithms and improve dispatching efficiency. This systematic capability provides practical support for scaled Robotaxi operations and further strengthens its competitive foundation as one of the Hong Kong-listed robotaxi stocks.
Ecological Collaboration and Global Layout Advance in Parallel
Beyond the Robotaxi business, Cao Cao Mobility is also accelerating the construction of cross-domain collaborative ecosystems and advancing international layout.
The company has established strategic cooperation with enterprises such as Geely SpaceTime and Aerofugia, with satellite communication capabilities already applied to the fleet operational system to improve vehicle positioning and operational stability. In international markets, the company has successively reached strategic cooperation with K2 Group, an AI technology company under the Abu Dhabi government, and May Mobility, a global autonomous driving technology enterprise, advancing Robotaxi commercialization deployment and operations in the Middle East and European markets respectively. The cooperation with K2 Group will jointly advance the Robotaxi project in the UAE, with road testing planned to begin in Abu Dhabi within the year and initial vehicle deployment planned; the cooperation with May Mobility focuses on the European market, where Cao Cao Mobility will participate as the Robotaxi fleet owner and operator.
Additionally, by integrating Yao Chuxing and Geely Business Travel resources, the company has further extended into the enterprise mobility services field, promoting the formation of a multi-tier business structure covering both personal mobility and enterprise services.
Conclusion
Overall, against the industry backdrop of accelerating autonomous driving commercialization, Robotaxi is transitioning from the technology validation stage to the scaled competition stage. As an important participant among Hong Kong-listed robotaxi stocks, Cao Cao Mobility is gradually building more systematic commercialization capabilities through continuously refining its operational network, strengthening its customized vehicle system, and advancing Robotaxi pilot operations.
As the industry enters a new development cycle, enterprises with operational capabilities and ecological collaboration advantages will play more critical roles in the future mobility landscape. Cao Cao Mobility’s continuous layout also provides a practical model with reference value for the development pathway of Hong Kong-listed robotaxi stocks.
