Signing ceremony of new joint venture; photo credit: Horizon Robotics
The German technology company will be the venture’s majority shareholder. The joint venture will be located in Jiading District, Shanghai and will have about 200 employees with an aim to accelerate the commercialization of automotive AI technology.
After signing a memorandum of understanding in 2020, both parties announced their plan to establish a joint venture in April this year. In the future, Horizon Robotics’ chips and algorithms will be integrated into the smart cameras and scalable, high-performance control units from Continental to serve automakers in China and around the world.
The companies revealed that several Chinese automakers have expressed their willingness to cooperate with the joint venture for mass production.
Also today, the joint venture signed a memorandum of understanding with automotive software company Elektrobit, which will provide reliable standard software products and solutions. The two partners will promote the development and mass production of autonomous driving-related products for local market.