Horizon Robotics Receives Strategic Investment from Chery Automobile
Horizon Robotics announced that it had received a strategic investment from Chinese auto manufacturer Chery Automobile and had completed the funding settlement. The funds would be used for the R&D and mass production of Horizon Robotics’ new generation of automotive grade computing solutions, the company said on September 26.
The two companies would 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, would 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 would roll off the line based on the new platform. The first model, the Chery E03, would 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 the Journey 2 computing solution would be launched in 2022.
Since its establishment, Horizon Robotics had 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.
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