Nio, Tencent cooperate on self-driving technology - PingWest

Nio, Tencent cooperate on self-driving technology

Nio, Tencent cooperate on self-driving technology

12 hours ago

Chinese electric vehicle company Nio and internet behemoth Tencent Holdings have inked agreement to cooperate on areas including autonomous driving and high-definition mapping.

Under the agreement, the two parties will work together on high-precision mapping systems for drivers.

The partnership will also enable Nio to take advantage of Tencent’s cloud computing infrastructure for data storage and training for autonomous driving, because intelligent car with self-driving technology require huge amounts of real-time data to be processed in order to train algorithms. In return, the partnership give Tencent an opportunity to enter into China’s burgeoning EV sectors as its core video gaming business has been hit by strict domestic regulation over the past years.

Similar alliance between Chinese tech giant and EV company was happened in August this year when Alibaba and Nio rival Xpeng opened a computing center to train software for driverless cars.

Nio delivered 31,607 vehicles in the third quarter, which is a quarterly delivery record for the start-up. In the first 10 months of this year, Nio delivered 92,493 vehicles, representing a year-over-year growth of 32%, according to data released by China Association of Automobile Manufacturers (CAAM).

However, Nio is facing supply-chain constraints amid Covid-19.

In October, Nio’s factory – the JAC-Nio Advanced Manufacturing Centre in Hefei, ran short of vital components for the ET5 sedan as the country’s zero-Covid policy forced some suppliers to halt operation.

SHARE