The latter just became China's most valuable self-driving unicorn, with a post-money valuation of CNY 8.5 billion (USD 1.3 billion) after its Series D round of funding
High-precision map service provider NavInfo has signed a strategic agreement with China's self-driving startup Pony.ai to design smart-driving solutions.
According to the agreement, as long-term strategic partners, both parties will combine their customer resources and products in the passenger vehicle field to jointly develop intelligent driving products and services for OEMs and expand business opportunities.
''NavInfo and Pony.ai are peers in the smart driving segment. With the same dream, we are committed to applying innovative and reliable autonomous driving technology to create a new era of future mobility. We believe that the collaboration will enable us to make another solid step towards our goal,'' NavInfo CEO Cheng Peng said.
Pony.ai Co-founder, CEO Peng Jun said that "NvaInfo is a leading automotive smart solution provider in China, while we have accumulated rich technology in the autonomous driving industry.
"The cooperation between the two sides will definitely be complementary to each other, produce more synergies, and promote the application and innovation of autonomous driving technology," Said Peng.
NavInfo specializes in high-precision map navigating and positioning. Pony.ai offers self-developed driverless car solutions, scalable platforms and tool kits, and it also has experience in operating the Robotaxi business. The two companies will leverage their strengths to improve autonomous drive solutions, research and develop the new generation of intelligent navigation products, said their joint statement.