China-based truck-hailing company Manbang Group has raised US$1.9 billion in a funding round led by the SoftBank Vision Fund and China Reform Fund, an investment firm backed by China Reform Holdings and other Chinese state-owned institutions. Other participants in the round include investment firms Farallon Capital, Baillie Gifford, Sequoia Capital, Hillhouse Capital and GVC Capital, as well as strategic investors Tencent Holdings and Google’s late-stage fund Capital G. Manbang plans to use the new financing to incorporate alternative energy-powered and autonomous vehicles into its service offerings and to expand internationally.