SHANGHAI, July 2023 – Leading autonomous driving firm, Hong Jing Drive, announced today that it has received a significant multimillion yuan follow-on investment from Prosperity7 Ventures, the diversified growth fund under Aramco Ventures. The investment transaction has been successfully completed.<\/p>\n\n\n\n
The recent influx of capital will be earmarked for the development of Hong Jing Drive’s next-generation ADAS (Advanced Driver Assistance Systems) and higher-level autonomous driving solutions. Furthermore, the company intends to expand its production capabilities to address the steadily rising demand for autonomous driving solutions among vehicle manufacturers.<\/p>\n\n\n\n
It’s worth noting that this isn’t the first time Prosperity7 Ventures has shown confidence in Hong Jing Drive. In February 2022, the venture arm had exclusively funneled an investment exceeding a hundred million yuan into the company. Other notable investors in Hong Jing Drive include Walden, Hillhouse Group, Linear Capital, BlueRun, and CITIC Goldstone, among others.<\/p>\n\n\n\n
Founded in 2018, Hong Jing Drive has consistently focused on both the passenger and commercial vehicle sectors, delivering integrated intelligent driving solutions. The company boasts full-stack perception software, advanced driving and memory parking software, as well as research and development capabilities for automotive-grade autonomous driving computing platform hardware. Their product line spans across L1-L4 autonomous driving levels. Over 500 individuals make up the R&D team, with more than 85% dedicated to research and development roles.<\/p>\n\n\n\n
At present, Hong Jing Drive’s solutions have been incorporated into 30 models from various OEMs, including SAIC, Great Wall, Chery, JAC, BYD, and Hozon. The company has four R&D centers nationwide and manufacturing bases located in Hefei and Shanghai.<\/p>\n\n\n\n
At this year’s Shanghai Auto Show, Hong Jing Drive unveiled its next-gen perception technology solution for advanced smart driving systems, aiming for “heavy perception, light mapping.” The company also introduced its new Single-Journey 3 Integrated Parking Domain Controller and Single-Journey 3 Smart Camera Modules. Notably, the former allows for flexible sensor configurations and promises to balance cost-efficiency with high-quality user experiences for high-speed navigation-assisted driving.<\/p>\n\n\n\n
In addition to product development, Hong Jing Drive is diligently refining its closed-loop cloud platform, enabling a positive feedback loop driven by intelligent driving data to enhance software algorithm capabilities.<\/p>\n\n\n\n
Thanks to the global and Middle Eastern resources of long-time shareholder Prosperity7, Hong Jing Drive is poised for international expansion, accelerating its global outreach.<\/p>\n\n\n\n
About Hong Jing Drive:<\/p>\n\n\n\n
Hong Jing Drive is a leading provider of integrated intelligent driving solutions, specializing in full-stack perception software and advanced autonomous driving technologies. With a strong emphasis on R&D and a broad range of products covering L1-L4 autonomous driving levels, the company is at the forefront of the smart mobility revolution.<\/p>\n","protected":false},"excerpt":{"rendered":"
Leading autonomous driving firm, Hong Jing Drive, announced today that it has received a significant multimillion yuan follow-on investment from Prosperity7 Ventures, the diversified growth fund under Aramco Ventures. The investment transaction has been successfully completed.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[8],"yoast_head":"\n