TMTPOST--ByteDance is reportedly aiming to raise $600 million for Dongchedi, its car app, which is valued at nearly $3 billion. General Atlantic, HongShan, KKR & Co., and Gaorong Ventures are participating in this fundraising round, Bloomberg reported, citing sources. ByteDance, the parent company of TikTok, began the process of separating Dongchedi less than a year ago. Dongchedi, which operates within the same user ecosystem as Douyin (the Chinese counterpart of TikTok), was launched as an independent entity in 2017. It serves as a platform for automobile information, trading, and services, boasting approximately 35.7 million monthly active users, as reported by Quest Mobile in June. ByteDance and Gaorong Ventures did not comment on the matter, and representatives from General Atlantic, KKR, and HongShan, formerly Sequoia Capital China, also declined to provide statements.