Shanghai (ZXZC)- Didi Chuxing, Chinese ride-sharing giant, announced that the company raised more than 4 billion dollars in the latest round of financing. The company plans to further increase its investment in artificial intelligence (AI) capacity-building to speed its internalization and new business initiatives, including new energy vehicle (NEV) services.

It is said that investors in this round included Softbank and Mubadala Capital. People familiar with the matter said after raising 4 billion dollars, the company plans to go public in 2018. Up to now, the valuation of Didi has surpassed 50 billion dollars, one of the highest in Asia. Counting the latest raised fund, the company has a total cash reserve up to 12 billion dollars, far more than 3.5 billion dollars two years ago.

With a substantial cash reserve, the company will step up efforts to promote its international strategy and provide high-quality, diversified and innovative transportation service for the global customers.

The company will improve its ability to build intelligent driving and intelligent transportation and set up its own NEV service network, in the purpose of leading the transformation in global auto and transportation industries and contributing to the construction of global energy interconnection.