Continental and Horizon Robotics form JV on Automotive AI Technology

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. 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. Some Chinese car manufacturers have already shown interest in working with the JV for mass production. The Joint Venture also signed a MOU for a cooperation with global automotive software specialist Elektrobit., who will provide reliable software products and solutions of underlying standardised vehicle infrastructures, so that the 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 center 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. “Continental has a century-old history and continues to lead the innovation and upgrading of the global automotive industry. And Horizon Robotics has a deep accumulation of artificial intelligence technology and the ultimate local service. We two parties establish a joint venture company to create a brand-new industrial cooperation model and will work together to become the firm implementer and practitioner of the industrialization of smart cars.”