[240426] #Momenta #Pony.ai #Luminar

1. MAN: First autonomous truck to operate on German motorway

• Momenta and Qualcomm collaborate to launch scalable intelligent driving solutions for ADAS and autonomous driving.
• Utilizes Momenta’s “One flywheel” core technology-driven algorithm architecture and Snapdragon Ride platform.
• Supports various driving scenarios like highway navigation pilot to urban navigation pilot.
• Delivers powerful computing performance ranging from 36TOPS to 100TOPS.
• Supports ADAS and autonomous driving across a wide range of vehicle models.
• One of the world’s first intelligent driving products built on the Snapdragon Ride platform.
• Expected to be deployed in production models later this year.
• Aims to reduce hardware system BOM costs for automakers and accelerate the integration of intelligent driving technology.
• Future collaboration aims to develop more solutions integrating cabin-driving fusion functionalities.

2. Chinese Self-Driving Startup Pony.ai to File for US IPO

• Chinese autonomous driving startup Pony.ai plans to file for an IPO in the United States, as confirmed by China’s securities watchdog.
• The company aims to go public on either the New York Stock Exchange or Nasdaq, intending to issue up to 98.2 million ordinary shares.
• According to the China Securities Regulatory Commission (CSRC), Pony.ai must update its filing within 15 working days and report any potential issues related to the share issuance.
• Founded in 2016 by Lou Tiancheng and James Peng, Pony.ai focuses on autonomous ride-hailing, autonomous truck, and smart driving businesses, with research centers in various locations including Silicon Valley.
• The company has deployed self-driving vehicle fleets in major Chinese cities, accumulating over 28 million kilometers of self-driving road tests by December.
• In October, Pony.ai secured USD 100 million in a Series D+ financing round from Saudi Arabia’s Neom and its investment fund, valuing the firm at USD 8.5 billion in March 2022.

3. Great Wall-backed autonomous driving startup Haomo secures RMB 300 million in new funding

• Haomo.AI Technology, a Chinese autonomous driving startup backed by Great Wall Motor, has secured RMB 300 million ($41 million) in a Series B2 funding round.
• The funding comes from a new fund set up by existing investor JZ Capital and the Changxing government in Huzhou, Zhejiang province.
• Haomo plans to use the funding for research and development to maintain its leading position in mass-produced autonomous driving solutions in China.
• The startup aims to leverage cost-effective advanced driver assistance systems to compete in the highly competitive market beyond 2024.
• Haomo will invest in large models, computing power, big data research, and develop cognitive products in-house to strengthen its technological foundation.
• Formerly a division of Great Wall Motor, Haomo became an independent company in November 2019, with its core team partly from Great Wall Motor’s smart driving R&D team and tech companies like Baidu and Huawei.
• In 2023, Haomo unveiled three ADAS kits targeting different vehicle segments, priced between RMB 3,000 and RMB 8,900.
• Over 20 vehicle models have been equipped with Haomo’s HPilot ADAS, driving nearly 140 million kilometers in China.
• Haomo predicts that the ADAS penetration rate for passenger cars in China will reach 70 percent by 2025.
• This funding round follows another round just two months ago when Haomo raised over RMB 100 million in a Series B1 round.
• Large funding rounds in China’s autonomous driving sector have been scarce due to macro-economic challenges, with HoloMatic’s RMB 300 million Series C3 funding round in July 2023 being one of the few notable exceptions.

4. Luminar Begins Production for Volvo and Unveils Next-Generation Halo Lidar

• Luminar Technologies announces updates and partnerships ahead of its 2024 investor day.
• Begins volume production of Luminar Iris lidar sensor for Volvo, marking a significant revenue milestone.
• Mercedes-Benz plans to incorporate updated Iris sensor into next-gen electric vehicles launching in 2025.
• Luminar focuses on the Chinese market, facing competition from local suppliers like Hesai and Robosense.
• Introduces next-gen sensor, Halo, aiming for superior performance, reduced size, and lower cost.
• Long-term goal is to make lidar technology more accessible and enhance vehicle safety features.
• Conducts testing with reinsurer Swiss Re to quantify benefits of adding lidar to vehicles, showing significant decrease in collisions and impact force.
• Partners with Applied Intuition to develop simulation capabilities for testing assisted and automated driving systems in various scenarios.
• Expands manufacturing partnership with TPK to enhance manufacturing capabilities and supply chains, aiming to reduce costs.

5. Hesai unveils compact long-range lidar for vehicles

• Hesai Technology unveils the ATX lidar, designed for the automotive industry and ADAS-equipped vehicles.
• Built on the 4th-generation technology platform, it offers longer detection range, higher resolution, and an ultra-wide field of view.
• CEO David Li anticipates the ATX to standardize safety features in intelligent vehicles, highlighting its impact on the lidar market.
• The ATX is 60% smaller and nearly half the weight of its predecessor, with low power consumption, enabling versatile integration on vehicles.
• Features include a maximum detection range of 300 meters, 140° horizontal FOV, real-time environmental condition identification, and noise filtering.
• Hesai aims for large-scale mass production of the ATX in Q1 2025, with design wins and nominations from leading automotive OEMs.