Nio will associate with Chinese language conglomerate Tencent Holdings Ltd to speed up the event of autonomous driving expertise.
A strategic cooperation settlement signed by the 2 corporations on November 28 in Shenzhen will see them construct an built-in hybrid cloud infrastructure for the sensible automotive sector. They may also collaborate on the event of high-precision mapping methods for drivers whereas Nio will use Tencent’s cloud computing infrastructure for information storage and coaching of its autonomous driving applied sciences.
Moreover, Tencent will assist Nio to attain a human-vehicle expertise that integrates customary navigation and high-precision navigation via a map information system together with customary maps, lane-level maps, and high-precision maps. Tencent’s cloud storage may also cut back the entire price of possession of algorithm growth and enhance analysis and growth effectivity.
Tencent is Nio’s largest institutional shareholder with a 9.8 % share of the electrical automotive producer. This implies it owns solely barely lower than the 9.9 % share held by Nio’s founding crew.
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Talking of the partnership, Nio chairman and chief govt William Li mentioned it can lead to a product expertise past expectations.
The automotive producer has been ramping up the event of its autonomous driving system and had deliberate to start out rolling out the newest model of its system to homeowners by the third quarter of this yr. Nonetheless, Li not too long ago mentioned plans had been delayed and that the system doubtless received’t be launched till later this quarter.
The technical partnership between Nio and Tencent comes only a few months after Chinese language rivals XPeng and Alibaba Group Holding Restricted opened a brand new pc middle to coach the software program for autonomous automobiles.