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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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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Just 19 months old, Qingtian Truck is nearing a shutdown and employees have been dismissed, according to local media.
(Image from Qingtian Truck website)
A Chinese self-driving truck startup that was previously sued by Pony.ai is reportedly winding down, the latest setback seen in the space.
Just 19 months old, Qingtian Truck is nearing a shutdown, with employees having been displaced and its operating entity facing liquidation, according to a report by local media outlet Jiemian today.
Qingtian Truck's engineers have also been leaving the company, the report said, citing self-driving industry sources.
The company's registration information has not yet changed and its operating status remains intact, although its website has not been updated with company news since January, the report noted.
Qingtian Truck was founded in Beijing in November 2021 to work on self-driving truck technology.
It received an angel funding round of nearly $10 million from 5Y Capital, the only round it has disclosed, just two and a half months after its founding.
In August 2022, Pony.ai, a self-driving startup backed by Toyota Motor and Nio Capital, sued Qingtian Truck and its key executives, Pan Zhenhao and Sun Youhan, alleging that the latter had infringed on Pony.ai's trade secrets.
Pan and Sun are two of the founders of Qingtian Truck and had worked for Pony.ai.
Pony.ai asked the court to order Qingtian Truck to stop infringing on its trade secrets and ask it to pay economic damages and expenses totaling RMB 60 million ($8.3 million).
In April, Qingtian Truck filed a countersuit against Pony.ai, claiming that the latter had abused its intellectual property rights and engaged in unfair competition.
In June, the two announced that they had reached a settlement, each withdrawing its lawsuit against the other.
It's unclear what the main reason is for the current woes facing Qingtian Truck, but investors appear to be increasingly cautious about the prospects for commercialization in the autonomous driving space at a time of slowing economic growth in China.
On May 15, Shanghai Securities News reported that e-commerce giant Alibaba's DAMO Academy is no longer retaining its autonomous driving business and team, which is being fully integrated into its logistics arm Cainiao.
This means that Alibaba's self-driving business is entering a whole new phase of moving from cutting-edge technology exploration in the lab to applications in real-world scenarios, the report noted.
($1 = RMB 7.2135)
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