Chinese drone maker DJI’s automotive division DJI Automotive is Watch Mound Daughtercurrently seeking external financing, according to an August 24 report by Chinese tech news site IThome. If successful, this would mark the first time that DJI’s auto business has sought external funding. The division believes that its valuation could reach $1.5 billion after two rounds of financing, according to IThome, citing an investor. In April 2022, DJI established its automotive business to focus on the research, development, production, and sales of intelligent driving systems and related core components. In July this year, the company launched its L2 intelligent driving solution named Chengxing. [IThome, in Chinese]
