Horizon Robotics receivs investment from Chinese automaker FAW

Horizon Robotics recently received a strategic investment from FAW Group, the Chinese self-driving chip company announced today, without disclosing the amount.

The investments will be used to enhance Horizon Robotics' forward-looking technology development for its AI chips and to advance the use of its technology, according to the company.

Horizon Robotics previously had cooperation with FAW, having been in strategic partnership with FAW Nanjing and FAW Intelligent Connected Development Institute since 2020.

In May, FAW's Hongqi brand confirmed that it will use Horizon Robotics' chips in a new model. FAW will build a high-level autonomous driving solution based on Horizon Robotics' multiple Journey 5 chips, according to the chipmaker.

Horizon Robotics did not provide additional information on its partnership with FAW.

The Chinese AI chipmaker was founded in 2015 with investors including Intel Capital, Hillhouse Capital and Jack Ma's Yunfeng Capital, and partners including Li Auto, BYD, SAIC Motor and Audi.

It released the Journey 2 chip in 2019, the first local automotive AI chip in China. Its Journey 3 chip is already being used in the 2021 Li ONE model.

On July 29, 2021, Horizon Robotics launched the Journey 5 chip, with plans to launch the Journey 5P in 2022 and the Journey 6 chip in 2023.

By the end of 2021, Horizon Robotics' cumulative shipments of its Journey family of chips exceeded 1 million, according to the company's press release today.

Horizon Robotics has now contracted with more than 20 car companies to provide AI chips for more than 70 models, according to the company.

The latest car company to announce it will use Horizon Robotics' chips is BYD.

BYD and Horizon Robotics reached a partnership on April 21 to include the latter's self-driving chip Journey 5 in some of its models coming to market in 2023, the chip company said in late April.

NIO is evaluating the use of Horizon Robotics' chips in its sub-branded models, the smart car-focused WeChat account XEV Lab reported on May 12, citing unnamed suppliers.

If things go well, the chip could be in mass production in NIO models in the fourth quarter of 2023, according to the report.

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