FAW Group invests in Horizon Robotics

Beijing (Gasgoo)-

China’s AI chip developer Horizon Robotics announced that it has received and completed the transaction of a strategic investment from FAW Group to strengthen its development.

Photo credit: Horizon Robotics

Horizon Robotics said that the investment from FAW Group would be put towards the R&D of advanced automotive AI chip technology and enhancing its engineering application capability.

Earlier in May, the chip supplier announced its partnership with FAW Group’s mainstay brand, Hongqi. According to their announcement, Hongqi will build an intelligent driving domain controller based on the Horizon Robotics’ Journey 5 chips, providing strong AI computing power of 384-512 TOPS for the automaker’s new-generation FEEA 3.0 electronic and electrical architecture. The domain controller can be expected to realize mass production on Hongqi’s new models in 2023.

Since its establishment, Horizon Robotics has attracted investments from numerous automakers and enterprises within the supply chain, including BYD, SAIC Motor, Great Wall Motor, CATL, Intel, and SK Hynix.

Its third-generation auto-grade chip, Journey 5, has landed procurement orders from multiple automakers in China, making it the world’s second and China’s first mass-produced AI chip with hundreds of TOPS of computing power.

By the end of 2021, Horizon Robotics has shipped over 1 million units of the Journey series chips.