Alibaba-backed internet car firm Banma sees 6 million cars in China using its software by 2023
Hao Fei, CEO of Banma Technologies, expects adoption of its AliOS operating system to pick up pace as it looks to form partnerships with more carmakers
Banma Network Technologies, an internet car start-up backed by Alibaba Group Holding, plans to introduce new investors this year as it opens up the AliOS in-car operating system to developers and carmakers for research and development.
Hao Fei, chief executive of Banma, said the company is targeting partnerships with a clutch of mainland carmakers who are increasingly embracing digital technologies.
“We are edging closer to a new round of fundraising with the introduction of new investors,” he said. “We also need to take an open attitude to bring in more partners to work together for the future of internet-connected car industry.”
The CEO would not disclose the names of the investors and the amount of fresh capital to be raised.
By joining hands with more carmakers to develop internet cars, Banma, a portfolio firm in the Alibaba-SAIC investment fund, expects its operating system to be used in about 6 million vehicles produced on the mainland within five years. It is hoping to create an industry standard much like Google’s Android operating system.