[241119] #Horizon Robotics #Mars Auto #Toyota

1. Horizon Robotics debuts strongly, fueled by autonomous driving boom

• Horizon Robotics, a Chinese autonomous driving tech firm, debuted on the Hong Kong Stock Exchange, raising $696 million and opening 28% above its IPO price.
• Backed by prominent investors, including Hillhouse Capital and Volkswagen, the company experienced 152% revenue growth in H1 2023, largely driven by a joint venture with Volkswagen for ADAS in China.
• Horizon’s portfolio spans hardware and software for ADAS and autonomous driving, with products selected by 42 OEM brands for 290 models, and targets a rapidly expanding market expected to reach $140 billion by 2030.
• While investing heavily in R&D, Horizon is narrowing its losses as it scales, maintaining high gross margins close to 70% and positioning itself for continued growth in the global ADAS market.

2. Mars Auto Gears Up for Intense Competition in the US Autonomous Trucking Market

• Mars Auto has launched its U.S. operations in Texas, focusing on automating long-haul Class 8 trucks with its proprietary, cost-effective self-driving technology.
• The Texas Triangle—connecting Dallas, Houston, and San Antonio—was chosen due to its role as a key logistics hub, where Mars Auto aims to provide streamlined and affordable trucking services.
• Unlike competitors, Mars Auto’s technology doesn’t rely on high-definition maps or LiDAR, reducing costs and simplifying autonomous truck deployment.
• By using a mapless, AI-driven approach, Mars Auto provides a complete trucking service to customers, potentially cutting per-mile costs by half compared to traditional trucking.
• Following success in South Korea, Mars Auto plans to expand across the Sunbelt region, aiming to support U.S. companies in adapting to a more automated and sustainable freight transport future.

Mars Auto has launched U.S. operations in Texas, offering cost-effective, AI-powered autonomous trucking services for long-haul freight across the Sunbelt.

3. SAIC’s IM Motors kicks off level 2 plus autonomous driving road testing in Europe

• IM Motors, a premium EV brand under China’s SAIC, has begun Level 2+ autonomous driving road tests in Europe.
• The tests introduce a navigate on autopilot without a map feature for overseas markets, developed in collaboration with Momenta.
• Specific details on which European countries are involved in the testing were not disclosed.

4. Toyota, NTT to make $3.3 billion R&D investment for AI self-driving, Nikkei reports

5. Torc Robotics Begins Autonomous Truck Validation Testing

• Torc Robotics, a Daimler Truck AG subsidiary, has started advanced validation of its driverless autonomous trucks in a closed-course, high-speed environment, marking a step toward product scale-up and commercialization by 2027.
• The validation involved testing at speeds up to 65 mph to enhance fuel efficiency, signaling Torc’s move from demo to scalable product development in autonomous trucking.
• Torc’s AI-driven technology prioritizes safety, scalability, and cost efficiency, with product design focused on AI best practices, robust embedded hardware, and unified architecture.
• This milestone reflects Torc’s rigorous safety standards, aligning with its mission to build a profitable, scalable autonomous solution for customers emphasizing safety and operational reliability.