Smart and Sustainable Electric Mobility
Pony.ai plans to set up a joint venture with Neom in Northwest Saudi Arabia to provide autonomous driving technology solutions for the region.
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Pony.ai will set up a joint venture in Saudi Arabia and establish a manufacturing and R&D center, according to local media.
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KargoBot has become an independently operated company and received an investment of over RMB 450 million, according to local media.
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Haomo unveiled three ADAS kits priced as low as $410 and not relying on high-definition maps to capitalize on the opportunity presented by smart driving features that will cover the vast majority of new cars over the next two years.
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DeepRoute expects to set up a European operations center in Germany next year and will release an overseas version of its Driver 3.0 ADAS solution.
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WeRide's last funding round was in May, when it was valued at $3.3 billion post-investment in a Series C round.
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GM China team and startup Momenta have worked together to create a self-driving solution for the Chinese market.
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Toyota, Pony.ai plan to invest a total of more than RMB 1 billion to set up a joint venture within the year, which will launch robotaxi cars built on Toyota's pure electric vehicles.
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The Li Auto vehicle was seen driving itself on a highway while the driver sat in the passenger seat watching a video.
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Black Sesame is the world's third largest supplier of automotive SoCs with high computing power by 2022 shipments.
(Image credit: Black Sesame Technologies)
Black Sesame Technologies, a self-driving chip startup, has filed for a listing on the Hong Kong Stock Exchange and is expected to be the first Chinese company to go public in the area.
Black Sesame has not yet announced the number of shares it plans to issue or the amount of capital it will raise, but has provided a detailed description of its business, according to a prospectus released today.
Founded in 2016, Black Sesame is a supplier dedicated to automotive SoCs and solutions, and was one of the first companies in China to lay out its presence in the autonomous driving chip space.
In January 2018, Black Sesame announced the completion of a Series A+ financing round of nearly RMB 100 million, led by NIO Capital.
The company's products include the Huashan series of autonomous driving SoCs and recently launched the Wudang series of cross-domain SoCs.
Black Sesame is the world's third largest supplier by shipments of automotive SoCs high computing power in 2022, its prospectus said, citing data from Frost & Sullivan.
Black Sesame has received intent orders for 15 models from 10 automotive OEMs and Tier 1 suppliers, and has partnered with more than 30 automotive OEMs and Tier 1 suppliers.
Black Sesame's revenue in 2020, 2021 and 2022 were RMB 53.02 million ($7.32 million), RMB 60.5 million and RMB 165 million, respectively.
It will invest RMB 255 million, RMB 594 million and RMB 766 million in R&D in these three years, respectively.
In 2020, 2021 and 2022, Black Sesame's annual adjusted net loss were RMB 273 million, RMB 614 million and RMB 700 million, respectively.
Black Sesame expects its net loss to increase significantly in 2023, as it is in the process of expanding its business and operations in the automotive SoC and solutions market and continues to invest in research and development.
The company provided products and solutions to 89 Chinese and overseas customers in 2022, shipping more than 25,000 SoC products and contributing 86 percent of annual revenue.
Based on 2022 shipments, Black Sesame's share of the market for SoCs with high computing power in China and globally were 5.2 percent and 4.8 percent, respectively, according to its prospectus.
($1 = RMB 7.2466)
Dongfeng to build smart driving platform based on Black Sesame's chips
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