CaoCao, a ride-hailing firm backed by Geely, is preparing to become a major robotaxi operator. The company plans to deploy 100,000 autonomous vehicles by 2030 as the self-driving industry intensifies.

Chinese ride-hailing company CaoCao, backed by Geely, is betting on a heavy-asset strategy to emerge as a leading robotaxi operator, with plans to deploy 100,000 autonomous vehicles by 2030 as competition intensifies and self-driving technology matures. In an interview with the South China Morning Post, CEO Gong Xin said the future of robotaxis hinged on an asset-management model built around a closed-loop “trinity” of vehicle manufacturing, autonomous driving technology and fleet...