Horizon Robotics announced on Monday that it has obtained strategic investment from FAW Group, and that the transaction has been completed. The funds will be used to strengthen the R&D of auto-grade AI chips and engineering implementation capabilities.
FAW Group and Horizon Robotics have already established a deep cooperative relationship. Since 2020, the AI firm has successively reached strategic cooperation with FAW Nanjing and FAW’s Intelligent Connected Vehicle Development Institute. In May 2022, the firm applied the Horizon Journey 5 AI chip to FAW Hongqi’s new model project, helping FAW Hongqi build a high-level automated driving solution.
Founded in 2015, Horizon Robotics hopes to build an efficient and open technology platform with “chip + algorithm + tools” as the core. This will take place through technological breakthroughs in key links such as AI computing architecture, automatic driving technology based on deep learning and software 2.0 infrastructure. It aims to improve the efficiency of technology development and application iteration.
By the end of 2021, the cumulative shipments of Horizon Robotics’ Journey series chips had exceeded 1 million units. It has signed factory installations and mass production of more than 70 models with over 20 car companies.
Targeting L2 to L4 intelligent vehicle applications, its third-generation auto-grade product, “Journey 5,” has both high performance and great computing power, which can meet the mass production application requirements of high-level automated driving. Journey 5 has been adopted by many mainstream car companies such as BYD, Niutron and FAW Hongqi. It is the first 100 TOPS-level AI chip with large computing power to be mass-produced in China.