Xiangdao Mobility - 享道出行
SAIC-backed Shanghai ride-hailing platform (est. 2018) pivoting to robotaxi with Momenta-developed autonomous driving tech; refiled HK IPO in 2026.
Xiangdao Mobility, formally Xiangdao Mobility (Shanghai) Technology Co., Ltd., is a Shanghai-headquartered ride-hailing and mobility platform launched by SAIC Motor, China's largest state-owned automaker, with trial operations beginning November 18, 2018 and an official public launch on December 18, 2018. The company completed an A-round strategic financing and platform upgrade in December 2020. Xiangdao's core consumer business covers app-based ride-hailing, professional chauffeur and designated-driver services, personal and corporate vehicle leasing, taxi-hailing aggregation, and government-affairs travel services, and the company states it operates or has partnership-based operations across a number of Chinese cities beyond Shanghai, including Zhengzhou, Suzhou, Kunshan, Hangzhou, Ningbo, Hefei and Nanjing.
The company's most consequential recent shift is into autonomous-driving and robotaxi services. Xiangdao's Robotaxi program is built on the Feifan MARVELR, a 5G-connected vehicle equipped with a lidar, radar and 12-camera perception suite. The autonomous-driving stack is described as a full-stack, self-developed combination of software and hardware co-created by SAIC's own AI Lab and Momenta, the Suzhou-headquartered autonomous-driving software company that counts SAIC among its investors. The Robotaxi product features include one-button hailing, rear dual-screen infotainment with real-time 3D route mapping, intelligent pedestrian detection, and all-weather road-condition recognition, with vehicles deployed in a first-batch rollout that draws on Xiangdao's existing fleet-safety-operations and ride-hailing service experience.
In 2026, Xiangdao, as an SAIC-backed ride-hailing operator, refiled its prospectus for a Hong Kong IPO, with the filing framing the company's strategic pivot toward autonomous driving and robotaxi services as a core part of its growth story, positioning the company to compete with other Chinese robotaxi operators pursuing public listings. The company is registered under unified social credit code 91310115MA1K427762 and operates a bilingual customer hotline in addition to a dedicated government-services line. Brand-partnership inquiries are handled through a dedicated email address. As a subsidiary integrated into SAIC Group's broader mobility ecosystem, Xiangdao leverages SAIC's vehicle manufacturing, R&D and capital resources rather than operating as an independent automaker, positioning itself as an operator and service integrator of autonomous-driving technology developed jointly with SAIC's AI Lab and its partner Momenta, rather than as the underlying technology developer itself.
Primary type & automation activities this supplier delivers:
Robotaxi
Autonomous ride-hailing service integrated into SAIC Mobility's Xiangdao platform for future mobility.
Contact Xiangdao Mobility
WEBSITE
https://www.saicmobility.com/PHONE
400-920-1115HEADQUARTERS
China
Company Facts
Founded
2018
Primary Role
RaaS
Company Size
-
Primary Region
Asia-Pacific
Annual Sales
-
Funding Stage
Subsidiary / Acquired
Funding Total
-
Xiangdao faces 16% "platform tax" challenge.
In May 2026, Xiangdao Mobility, backed by SAIC Group, submitted a revised prospectus to the Hong Kong Stock Exchange, marking its second attempt at an initial public offering (IPO). This updated filing includes comprehensive financial and operational data for the entirety of 2025, signaling an improvement in the company's profitability. Despite a steady increase in revenue, which rose from 5.718 billion yuan in 2023 to 6.774 billion yuan in 2025, the number of active drivers has stagnated. The monthly active driver count grew marginally from 94,000 to 100,000, with a notable 9% drop from 2024 to 2025. This discrepancy suggests that revenue growth is primarily driven by an increase in orders per driver rather than an expansion of the driver base. As the ride-hailing market approaches saturation, with over 20 major cities issuing capacity warnings in 2026, Xiangdao reported an average of 8.6 daily orders per vehicle in 2025, reflecting a 14.6% year-on-year increase. However, the company relies heavily on external platforms for 98.5% of its orders, incurring significant commission costs that compress profit margins. Looking ahead, Xiangdao aims to pivot towards autonomous driving technology, collaborating with partners like Momenta for development while focusing on enhancing its smart dispatch and safety monitoring systems. However, the transition to Robotaxi services raises questions about future profitability and market positioning, especially as the company remains cautious about international expansion compared to its competitors.
