What Caocao Chuxing does

Caocao Chuxing, operating under Hangzhou Youxing Technology Co., Ltd. (杭州优行科技有限公司), is a Chinese ride-hailing platform founded on May 21, 2015 and majority-owned (77.33%) by Zhejiang Geely Holding Group. The company listed on the Hong Kong Stock Exchange in June 2025 under ticker 02643.HK. It operates a multi-tier ride-hailing service across 195 cities in China with over 38,000 customized new energy vehicles and approximately 466,000 average monthly active drivers, serving individual consumers via economy (惠选) and premium (专车) tiers, enterprise clients via a dedicated corporate solution (曹操企业版), government entities, and carpool users (曹操顺风车).

The platform is built on Geely-supplied customized NEVs, an integrated battery-swap network being converted into Green Intelligent Mobility Hubs, and proprietary ride-dispatch AI across 41.3 million average monthly active users. Its technology roadmap centers on the Eva Cab, China's first purpose-built robotaxi with L4 autonomous driving developed jointly with Geely Auto Group and Qianli Haohan, for which mass production is scheduled for H1 2027 and a fleet of 100,000 units is targeted by 2030. Caocao also exposes its mobility services through ByteDance's Doubao AI assistant (one-click voice taxi ordering) and a Caocao MCP protocol integration.

The company monetizes primarily through ride-hailing transaction fees (RMB 20.2 billion in 2025 revenue, +38% YoY), supplemented by enterprise subscription contracts (annual billing negotiated by fleet size), carpool fares, and related-party vehicle supply and travel service transactions with Geely and LEVC. 2025 marked its first quarterly adjusted net profit (Q4), with gross margin of 9.4% and operating cash flow up 60.3% YoY, indicating the business has reached self-financing capability while continuing aggressive investment in autonomous and international expansion.

Name

Caocao Chuxing

Legal name

Hangzhou Youxing Technology Co., Ltd. (杭州优行科技有限公司)

Website

https://caocaokeji.cn

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Caocao Chuxing is a Hangzhou-based ride-hailing platform majority-owned by Zhejiang Geely Holding Group that operates across 195 Chinese cities with 38,000+ customized NEVs and 41.3 million MAUs, serving individual, enterprise, and government riders while developing the Eva Cab L4 robotaxi for domestic and international deployment.

Ownership category

akta.pro rank

Product category

ride-hailing mobility services

NAICS

Taxi and Ridesharing Services (485310)

SIC

Transportation Services (4700)

akta.pro primary industry

Ride-Hailing & Taxi Aggregation Platforms (BPAMAIAE)

akta.pro secondary industries

Autonomous Ride-Hailing / Robotaxi Platforms (THADADAL), Ride-Hailing / On-Demand Mobility for Business (Managed Ground Transport) (TLABALAF), Charging Systems & Swappable Battery Infrastructure Manufacturing (IMACAOAF)

Keywords

• Ride-hailing services
• New energy mobility
• Robotaxi deployment
• Enterprise fleet management
• Autonomous driving platform

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Ride-hailing Transaction Fees: Core revenue stream from ride-hailing services, charging users for transportation services across its platform. The company reported 2025 annual revenue of RMB 20.2 billion, a 38% year-on-year increase.
2. Enterprise Transportation Solutions: Corporate fleet management and transportation solutions through 曹操企业版, providing businesses with dedicated出行管理 services and reporting tools.
3. Connected Transactions with Geely: Services agreement with Geely Automobile Holdings for travel and event services with caps rising from approximately RMB933.7 million in 2026 to RMB1,058.3 million in 2028.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Caocao Chuxing operates a multi-tier new energy vehicle ride-hailing platform offering economy (惠选) and premium (专车) services, enterprise fleet management solutions (曹操企业版), carpooling (曹操顺风车), and customized vehicles (曹操60/曹操汽车). The platform is expanding into autonomous mobility through the Eva Cab, China's first purpose-built L4 robotaxi developed with Geely and Qianli Haohan, supported by Green Intelligent Mobility Hubs with battery-swap infrastructure.

Product overview

Caocao Chuxing (曹操出行) operates as a multi-service mobility platform under Geely Holding Group, founded in 2015. The platform offers a unified ecosystem of ride-hailing services including 曹操网约车 (economy and premium tiers), 曹操企业版 (enterprise solutions), 曹操顺风车 (carpooling), and 曹操汽车 (customized vehicles like the曹操60). The company is undergoing a major transformation toward autonomous mobility with its Eva Cab robotaxi (China's first purpose-built autonomous vehicle) and Green Intelligent Mobility Hub infrastructure. The platform serves 195 cities with over 38,000 customized vehicles, 41.3 million monthly active users, and has achieved profitability milestone in Q4 2025.

Differentiator

Problem solved

Functional benefit

Brands

• 曹操网约车 (Caocao Ride-Hailing): Main ride-hailing service with options including 惠选 and 专车 (economy and premium tiers)
• 曹操企业版 (Caocao Enterprise)
• 曹操汽车 (Caocao Auto)
• 曹操顺风车 (Caocao Hitch)
• 曹操MCP
• RoboX
• 曹操碳资产 (Caocao Carbon Assets)

Products and services

• Caocao Ride-hailing (曹操网约车) Core on-demand ride-hailing platform offering multiple service tiers including 惠选 (economy) and 专车 (premium), operating across 195 cities in China with over 38,000 customized new energy vehicles. Targets urban individual consumers seeking daily transportation.
• Caocao Enterprise (曹操企业版) Enterprise-grade corporate vehicle solution providing comprehensive fleet management, cost control, travel policy enforcement, and administrative dashboards for businesses and government agencies. Targets HR, finance, and procurement teams managing employee transportation.
• Caocao Hitch / Carpool (曹操顺风车) Carpooling service for affordable and convenient daily commuting, connecting commuters traveling similar routes to share rides and reduce costs. Targets cost-conscious urban commuters.
• Caocao Auto / Caocao 60 (曹操汽车) Customized vehicle program featuring purpose-built NEVs for the ride-hailing fleet, including the 曹操60 model with smart cabin features like one-click ventilation, intelligent temperature control, free WiFi, music playback, and shake-to-find-car functionality.
• Eva Cab Robotaxi China's first purpose-built L4 autonomous driving robotaxi developed jointly with Geely Auto Group and Qianli Haohan. Features a quantum-level AI architecture, no steering wheel or front passenger seat, automated battery swapping and cleaning, with a service life 2-3 times longer than ordinary passenger vehicles. Targets robotaxi fleet operations.
• Robotaxi Fleet Operational autonomous vehicle ride-hailing fleet with over 100 Robotaxis deployed in Hangzhou with 3,600+ virtual pick-up and drop-off points. Expansion planned for multiple Chinese cities and international markets including Abu Dhabi and Hong Kong.
• Green Intelligent Mobility Hub World's first Green Intelligent Mobility Hub launched in Hangzhou, integrating battery swapping infrastructure, charging, autonomous vehicle services, and operational support in a unified ecosystem. Serves as operational backbone for the robotaxi fleet.
• Caocao Carbon Assets (曹操碳资产) Carbon asset program tracking passenger carbon reduction contributions. Each kilometer traveled in Caocao new energy vehicles equals 142 grams of carbon reduction, with cumulative 1.9 billion rides and 3.1 million tons of carbon reduced by end of 2024.

Quantifiable outcome

• RMB 20.2 billion revenue in 2025, up 38% year-on-year
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability6 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• ByteDance (Doubao)coreStrategic or Co-development Partner · 22 June 2026ByteDance's AI assistant Doubao is conducting gray testing of one-click taxi service with Caocao Travel in Beijing and Hangzhou, allowing users to input travel needs via voice and complete taxi orders with one click. Caocao Travel provides the taxi services and offers additional service fees to drivers for handling Doubao-sourced orders.
• Abu Dhabi Investment OfficeflagshipStrategic or Co-development Partner · 25 April 2026Strategic partnership with Abu Dhabi Investment Office for overseas expansion, marking Caocao's key international hub outside China. The partnership supports deployment of robotaxis globally starting with Abu Dhabi.
• Qianli HaohancoreStrategic or Co-development Partner · 24 April 2026Joint development partner for the Eva Cab, China's first purpose-built robotaxi, developed jointly by CaoCao, Geely Auto Group, and Qianli Haohan. Features L4 autonomous driving system and quantum-level AI architecture.

Scale indicators15 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Didi Chuxing: China's dominant ride-hailing platform operating across hundreds of cities with a full driver and rider stack. Directly comparable to Caocao Chuxing in core on-demand mobility and increasingly in autonomous driving ambitions.
• T3 Mobility: Chinese ride-hailing joint venture among major automakers (including Changan, Dongfeng, FAW) targeting the same NEV-fleet-led mobility model as Caocao. Competes head-to-head in tier-1 Chinese cities with similar enterprise and consumer offerings.
• Shouqi Yue (Shouqi Car-hailing): Beijing-based premium ride-hailing platform backed by Shouqi Group, focusing on chauffeur-driven services and corporate accounts. Comparable in NEV-based premium tier positioning and enterprise customer focus.
• Lyft: Pure-play ride-hailing platform with active autonomous vehicle partnerships. Comparable in core consumer ride-hailing economics and the strategic pivot toward autonomy, though operating in a different geography.

Broad incumbents

• Meituan: Chinese super-app offering ride-hailing among many on-demand local services. Competes with Caocao for riders in tier-1/2 cities but operates a fundamentally broader platform model rather than a specialized NEV fleet.
• Baidu Apollo Go: Baidu's autonomous ride-hailing service with the largest commercial robotaxi footprint in China. Competes with Caocao for autonomous fleet deployment scale, regulatory approvals, and AI integration into consumer apps.
• Uber: Global ride-hailing incumbent pursuing autonomous partnerships and robotaxi deployment. Comparable business model, take-rate economics, and the same transition from human-driven to autonomous ride-hailing.

Emerging players

• Pony.ai: L4 autonomous driving technology company operating robotaxi pilots in China and globally. Directly comparable to Caocao's Eva Cab robotaxi ambitions and competes for the same regulatory permits and OEM partnerships.
• WeRide: L4 autonomous driving company with robotaxi operations in China and the Middle East, including Abu Dhabi. Directly comparable to Caocao's Eva Cab program and overlapping international expansion geographies.

Regional players

• Grab: Southeast Asia super-app with ride-hailing as a core vertical and active robotaxi partnerships. Comparable in multi-product mobility platform model (consumer, enterprise, carpool) and regional autonomous deployment strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds4 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Caocao Chuxing