Alibaba Financial Arm Provides $7.3 Billion for Financing EVs

  • Emma Sandler
  • May 31, 2017
Alibaba Group’s subsidiary Ant Financial will provide $7.3 billion to provide financial assistance to delivery drivers participating in Cainiao Network’s partnership with carmakers SAIC Motor and Dongfeng Motor, the company announced yesterday. Cainiao Network, Alibaba’s data-driven logistics subsidiary, formed the partnership to manufacture one million green-energy delivery vehicles equipped with Cainiao’s AI technology in a bid to boost the efficiency and […]