(Reuters) – Chinese electric-car startup, Nio Inc. (NIO.(N) and Intel Corp (INTC.D) a self-driving car technology company Mobileye on Tuesday, and said that she would be a partner for the development of autonomous vehicles for the consumer market in China, and eventually other countries as well.
FILE PHOTO: a Chinese electric-car start-up, NIO, Inc. the logo is displayed on the display panel on the front page of the New York Stock Exchange (NYSE) to celebrate the company’s initial public offering (IPO) in New York, New York, united states of america, September 12, 2018. REUTERS/Brendan McDermid
Under the agreement, the Nio will have to produce and produce on a large scale, a self-driving system designed by Mobileye, which will be integrated into the Nio’s electric vehicle consumer lines, as well as Mobileye’s driverless car-hailing services.
The self-driving kit will be supplied by Israel-based Mobileye provides to the vision-processing chip, a camera, a radar, and lidar sensors, as well as the safety, security, and mapping software.
Nio will also be the development of a version of the self-driving, electric cars, of which Mobileye shall be implemented as robotaxis for a ride-from the services in the global market.
No financial details of the collaboration have been created.
The companies are planning an initial release in China, starting in 2022, Mobileye President and Chief Executive Officer, Amnon Shashua, told Reuters in an interview on Monday.
“The deal with the Nio will also enable us to acquire data in accordance with the Chinese laws and the improvement of the mapping to support autonomous driving,” Shashua said.
The Mobileye CEO, added that the roll-out in China was made more effective, when the regulation was centralized, and the government is working on the standardization of Mobileye’s safety, it is a model for self-driving cars is the law.
Suppliers and manufacturers are increasingly becoming skeptical about the rate of adoption of fully-automated, self-driving systems, due to the high cost, complexity, and regulatory hurdles.
In the meantime, they have begun to focus on the use of more advanced driver assistance systems (ADAS), which are the parts, but cost much less and generate much-needed revenue to help cover the costs of the development of a fully self-driving systems.
Mobileye, on Tuesday, said the powers of the ADAS in their car models from 27 manufacturers.
A loss, and the cash-burning for Nio, it is one of the most notable among the dozens of Chinese electric-vehicle start-ups vying to be the next Tesla Inc. (TSLA.D). All of them are constrained by the decline in demand in the world’s largest auto market, and less government subsidies for EVs and the continued concern about the China-U.S. trade war.
Nio, on Tuesday, said that the cooperation with Mobileye-line with our mission to be the premium of smart electric car and was able to maintain a competitive edge in the electric car competition.
Report by Tina Bellon; Editing by Stephen Coates