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China's HiRain Technologies raises $30m for self-driving tech

Funds to speed development of connected vehicles

An autonomous vehicle is displayed in Guangdong Province, China in February 2019.   © Reuters

BEIJING -- Beijing-based automotive electronics supplier HiRain Technologies has raised 210 million yuan ($30 million) from investment bank and private equity investor China Renaissance.

The company, which was founded in 1998, provides electronics for driving-assist, braking, doors, windows, light and charging systems. Customers include General Motors, Ford, FAW-Volkswagen, BAIC and Geely, according to the HiRain website.

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