(Yicai) Nov. 25 -- Haomo.AI Technology, a Chinese autonomous driving startup backed by Great Wall Motor, confirmed to Yicai that it has let go some employees.

Haomo.AI is making normal adjustments to its organizational structure, the Beijing-based company told Yicai on Nov. 22. According to recent rumors, the firm has cut around 30 percent or even almost half of its workforce across various departments.

Haomo.AI, formerly a division of Great Wall Motor, was spun off from its Baoding-based parent in 2019. Chairman Zhang Kai recently said the tech firm will push ahead with a plan to go public in Hong Kong next year after Great Wall Chairman Wei Jianjun reportedly put it on hold.

Haomo.AI has raised funds from Great Wall Motor, which remains its actual controller, on-demand services titan Meituan, Beijing Shougang Fund, and GL Ventures, an investment firm spun off from Hillhouse Capital. It banked CNY100 million (USD13.8 million) from a Series B1 financing round and CNY300 million from a Series B2 round in the first half of this year.

More than 20 Great Wall models have been equipped with Haomo.AI's HPilot smart driving system. The startup has also signed deals with other carmakers, but has not disclosed any details.

Haomo.AI is not the only supplier of smart-driving tech to Great Wall Motor, which has tapped DeepRoute.ai for high-level solutions. The automaker also penned a deal with Hesai Group in February. Many of its new models expected this year will be equipped with Hesai’s advanced driver-assistance system laser radars.

Editors: Shi Yi, Martin Kadiev