Technology company Continental, and one of the global leaders in edge Artificial Intelligence (AI) computing platforms Horizon Robotics signed a Joint Venture (JV) contract, focusing on providing hardware and software integrated solutions for Advanced Driver Assistance Systems and automated driving.
Continental will be the majority shareholder. They also signed the investment contract with Shanghai Jiading Industrial Zone that the new JV will be located in Jiading District Shanghai. The JV is expected to have around 200 employees. Intelligent driving, facilitated by Advanced Driver Assistance Systems (ADAS) and Automated Driving (AD) capabilities, is a field with big market growth potential and where development speed is of the essence. Therefore, Continental and Horizon Robotics are establishing a Joint Venture to accelerate the development and to commercialize automotive AI technology.
Continental and Horizon Robotics have been cooperating for several years already. This has led first to a Memorandum of Understanding (MoU) to cooperate, which was published early last year. This was followed by another MoU at the Auto Shanghai this year, to form a JV. At that time the cooperation had picked up further momentum so that both companies decided to work together even more closely.
The target of the JV is to integrate Horizon Robotics’ processors and algorithms in smart cameras and control units for ADAS and Automated Driving from Continental and to give Horizon Robotics a global reach and manufacturing footprint for its technology. It will serve the Chinese market as well as international OEMs globally. Up to now, some Chinese car manufacturers are willing to have a corporation with the JV for mass production.
The Joint Venture also signed a MOU for a cooperation with global automotive software leader Elektrobit. With Elektrobit’s experience and expertise the two parties can better facilitate the development and mass production of local autonomous driving-associated products today. Elektrobit will provide reliable software products and solutions of underlying standardized vehicle infrastructures, so that JV can focus on developing differentiated features and innovations.
“We highly respect the focus and speed with which our partner Horizon Robotics is driving forward automotive AI technology. This approach to innovation is what the market needs. By forming a Joint Venture with our new partner, we can leverage a powerful combination of cutting-edge AI technology and the longstanding manufacturing and quality process expertise with best-in-class and affordable products”, said Frank Petznick, head of the Advanced Driver Assistance Systems business unit at Continental.
“The automobile industry has fully entered the intelligent stage. Being in the centre of the stadium, only by embracing new thinking, innovative mentality and open mind can we seize the opportunity of industrial transformation”, said Kai Yu, founder and CEO of Horizon Robotics.