- Continental and Horizon Robotics signed agreement to establish a Joint Venture (JV), which will be located in Shanghai, China
- Continental brings its system know-how for Advanced Driver Assistance Systems (ADAS) and Automated Driving (AD) plus its global reach and manufacturing strength to the JV
- Horizon Robotics continues to focus on automotive processors and algorithms for intelligent driving
Lindau (Germany)/Shanghai/(China), September 29, 2021 – Technology company Continental and leader in automative computing solutions Horizon Robotics today signed agreement to formally establish a JV, which will focus on providing hardware and software integrated solutions for ADAS and AD. They also signed an investment agreement with Shanghai Jiading Industrial Zone and confirmed that the new JV will be located in Jiading District.
Majority-owned by Continental, the JV is expected to initially recruit around 200 employees. Intelligent driving, facilitated by ADAS and AD capabilities, is a field with tremendous market growth potential and where development speed is essential. The JV between Continental and Horizon Robotics is therefore designed to accelerate the development and to commercialize automotive technology.
Continental and Horizon Robotics have enjoyed a partnership for several years, which had led first to a signing of a cooperation Memorandum of Understanding (MoU) in early 2020. Following months of intensified cooperation thereafter, the two companies inked another MoU at this year’s Auto Shanghai with the intention to form the JV.
Under the latest official agreement, the JV aims to integrate Horizon Robotics’ processors and algorithms with Continental’s smart cameras and its control units for ADAS and AD. With such expanded reach and manufacturing footprint, Horizon Robotics will be able to go beyond the China market and meet global demands for its technology. Up to now, some Chinese car manufacturers have expressed intention to corporate with the newly formed JV for mass production.
At today’s signing event, the JV also inked an MoU for cooperation with global automotive software leader Elektrobit, with the intention to better facilitate the development and mass production of local autonomous driving-associated products. Elektrobit will provide reliable software products and solutions of underlying standardized vehicle infrastructures, whereas the JV will focus on developing differentiated features and innovations.
“We highly respect the focus and speed with which our partner Horizon Robotics is driving forward automotive 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-automative 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 center of the stage, we believe that only by embracing new ideas and with an innovative mentality can we seize the opportunity of this industrial transformation”, said Kai Yu, founder and CEO of Horizon Robotics. “Although with a century-long history, Continental has been a leader in the innovation and advancement of the automotive industry. As an automative leader, Horizon Robotics possesses deep knowledge, sophisticated technology and unparalleled local market service. I’m confident that our joint venture will create a groundbreaking cooperation model. We look forward to joining hands and working hard to push forward the industrialization of intelligent car across the world.”
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent, and affordable solutions for vehicles, machines, traffic and transportation. In 2020, Continental generated sales of €37.7 billion and currently employs around 193,000 people in 58 countries and markets. In 2021, the company celebrates its 150th anniversary.
Horizon Robotics is a leader in automotive-grade computing for intelligent vehicles and was the first Chinese company to commercialize autonomous driving processors. The company's mission is "to make life safer and better through automotive computing" with a vision to empower every vehicle with its computing.
ABOUT HORIZON ROBOTICS
Horizon Robotics is a leading provider of energy-efficient computing solutions for advanced driver assistance systems (ADAS) and automated driving (AD) for consumer vehicles, with the mission to make human life safer and better. As a pioneer to commercialize embedded passenger-vehicle ADAS and AD products in China, Horizon Robotics is committed to enhancing next-generation driving experiences by integrating hardware and software, including low-power hardware computing solutions and open software development tools. By closely collaborating with a community of partners, Horizon Robotics offers products and services that enable an open ecosystem to accelerate the transformation of smart electric vehicles.
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