HoloMatic Signs Investment Agreement with GAC Capital
On 29 October, HoloMatic (Beijing) and Guangzhou Automobile Group Co., Ltd. (GAC Group) signed an agreement in Guangzhou to deepen their cooperation. On the same day, HoloMatic also signed an investment agreement with GAC Capital Co., Ltd., which will formally invest in HoloMatic.
This investment will help GAC Group to establish a closer strategic cooperative relationship with HoloMatic, allowing the firm to secure strategic resources in the field of automobile intelligence and connected vehicles series production technology, thus opening up a vital link for GAC Group to build an ecosystem of intelligent and connected vehicles.
Founded in 2017, HoloMatic is committed to creating an autonomous driving series production solution driven by local data based on cutting-edge artificial intelligence technology and automotive industry technology. The company has built a complete layout from an artificial intelligence algorithm to an embedded system, and from closed-loop big data to iterative evolution of systems.
HoloMatic has been favored by capital markets. Even in 2020, when the automatic industry was hit badly by the pandemic, the research and development progress and financing of HoloMatic were not affected. The A+ round of financing was successfully obtained, and the proceeds were used to support the engineering and technology research and development of autonomous driving. HoloMatic has completed two rounds of financing in 2021, and a number of GAC passenger cars equipped with HoloMatic’s autonomous driving system will enter the market in 2022.
At the end of 2019, GAC Group announced its transformation into a technology-based enterprise, and successively reached strategic cooperation agreements with leading technology enterprises such as Huawei and Tencent to build a cross-border integrated ecosystem of intelligent and connected vehicles, thus accelerating the research and development and application of intelligent and connected vehicles.
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The cooperation between HoloMatic and GAC Group has a long history. In the field of automobile intelligence and connected vehicles, the two sides have carried out in-depth cooperation in the development of automated valet parking and memory parking functions, and have achieved great results. At present, in-depth research and development of L3 and above autonomous driving technology has been carried out in an all-round way. This year, HoloMatic has reached a strategic cooperation agreement with the GAC R&D Center to provide autonomous driving systems for GAC’s vehicle platform.