Horizon Robotics Receives Strategic Investment from Chery Automobile
Horizon Robotics announced that it has received a strategic investment from Chinese auto manufacturer Chery Automobile and has completed the funding settlement. The funds will be used for the R&D and mass production of Horizon Robotics’ new generation of automotive grade computing solutions, said the company on September 26.
The two companies will start new cooperation in high-level assisted driving, in addition to their recent collaboration in in-cabin applications. According to their plan, Chery’s new high-end smart electric vehicle platform E0X, will use the Horizon Robotics’ Journey™ 3 product as the cornerstone of computing power.
At least five EV models of Chery with the L2+ level assisted driving solutions will roll off the line based on the new platform. The first model, the Chery E03, will be launched in 2023 with the Navigate-on-Pilot (NOP) assisted driving function in both highway and urban areas. In addition, the mass-produced EV with ADAS (Advanced Driving Assistance System) built by the two parties based on Journey 2 computing solution will be launched in 2022.
Since its establishment, Horizon Robotics has raised funds from several leading VCs of Chinese auto manufacturers such as SAIC Group, GAC Capital, Great Wall Motor, BYD, FAW Group, as well as upstream and downstream enterprises in the auto supply chain such as Intel, SK Hynix, CATL, Luxshare Precision.
Horizon Robotics created a solid partnership with Chery. In 2021, the two parties reached comprehensive strategic cooperation. In 2022, Chery Tiggo 8 PRO, a mid-size crossover SUV, OMODA 5, a compact crossover SUV, and other newly launched models were equipped with a multi-mode interaction solution based on the Journey 3 computing solution to provide industry-leading smart cockpit functions.
ABOUT HORIZON ROBOTICS
Horizon Robotics is a leading provider of energy-efficient computing solutions for advanced
driver assistance systems (ADAS) and automated driving (AD) for consumer vehicles, with
the mission to make human life safer and better. As a pioneer to commercialize embedded
passenger-vehicle ADAS and AD products in China, Horizon Robotics is committed to
enhancing next-generation driving experiences by integrating hardware and software,
including low-power hardware computing solutions and open software development tools. By
closely collaborating with a community of partners, Horizon Robotics offers products and
services that enable an open ecosystem to accelerate the transformation of smart electric
vehicles.
Media Contact
Fang LUO
International PR Department, Horizon Robotics
Email: intl-pr@horizon.cc
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