佑驾创新 Acquires 50% Stake in ZTO Subsidiary to Advance L4 Autonomous Logistics Vehicles

On May 29, 2024,佑驾 Innovation (HKEX: 2431) announced the acquisition of a 50% equity stake in Xi’an Tongtu Technology Co., Ltd.—a wholly owned subsidiary of ZTO Express—for a total consideration of RMB 25 million. Following the transaction, Tongtu Technology will become a non-wholly-owned subsidiary of佑驾 Innovation, while ZTO Express will become a strategic shareholder of佑驾 Innovation through the receipt of consideration shares. The transaction aims to integrate ZTO Express’s logistics operational infrastructure with佑驾 Innovation’s autonomous driving technology to accelerate the commercial deployment of Level 4 (L4) autonomous driving in the logistics sector. The two parties plan to jointly advance large-scale deployment of autonomous vehicles and co-build an industry ecosystem. Recently,佑驾 Innovation launched its “truly map-free” L4 autonomous logistics vehicle, Xiaozhu T5 Pro. This vehicle operates without reliance on high-definition maps, instead using onboard sensors to perceive the environment in real time and dynamically construct drivable space, enabling deployment within hours and adapting to dynamic scenarios such as road construction and lane marking changes. Leveraging this technology,佑驾 Innovation is shifting toward a Robovan-as-a-Service (RaaS) model, offering on-demand autonomous transportation capacity and transitioning from hardware sales to recurring service-based revenue. As a leading domestic logistics enterprise, ZTO Express provides nationwide coverage reaching 96% of townships, stable transportation demand, and a mature operational system—offering real-world scenarios and data support essential for scaling autonomous vehicle applications. This partnership marks a strategic shift in the autonomous logistics landscape—from competition based solely on technological capability toward comprehensive competitiveness rooted in the synergy of technology, operations, and ecosystem collaboration. Through deliberate technology pathway selection, business model evolution, and ecosystem integration,佑驾 Innovation is establishing a closed-loop system encompassing “technology–scenario–operations,” driving autonomous logistics beyond pilot projects toward full-network commercialization.