On July 26, 2024 in Shanghai /PRNewswire/ -- Today, Huazhi Technology (NASDAQ: HSAI) announced that it has reached a spot production cooperation agreement with the Chinese joint venture brands under Audi, GM, and Ford, and new cooperative models will start mass production successively from 2025.
During the key period of the intelligent transformation of the Chinese automobile market, joint venture automakers at home and abroad are also increasing their efforts in intelligent development. With fast product iteration, rich product engineering experience, and strong mass production and delivery capabilities, Huazhi has successfully established a place in the supply chain system of several mainstream joint venture automakers. This means that the technology of China's local smart driving supply chain enterprises has gained recognition from century-old automobile brands, and the global automobile supply chain pattern is welcoming new changes and opportunities.
Huazhi Maxwell R&D and Intelligent Manufacturing Center
In the past year, Huazhi's front-loading production business has made rapid progress, continuously won high-quality new spot orders, and presented a strong growth trend. In just the past 12 months, Huazhi has added 9 domestic and foreign mainframe factory customers, and has attracted new spot orders from a number of new forces, joint venture automakers, and overseas large factory customers in addition to existing deep cooperative new forces customers such as Idee.
As of the first quarter of 2024, Huazhi has accumulated front-loading production spots from nearly 70 models of 18 mainstream automakers. Among the top 10 international automakers in the Fortune Global 500 list, 6 automakers or their joint venture partners have reached mass production cooperation relationships with Huazhi, including a global mass production model of an international well-known automobile brand. This means that Huazhi has firmly established its leading position in the front-loading production market and occupies the leading position in the global passenger vehicle lidar market.
Huazhi AT128 vehicle regulation ultra-high-definition long-distance lidar
According to the Global Automotive Lidar Report 2024 released by Yole Intelligence, Huazhi has been the global automotive lidar market share leader for three consecutive years.
Huazhi's global automotive lidar market share is number one
Since its establishment, Huazhi has insisted on a global development strategy and has provided high-performance and high-quality lidar products to customers in more than 40 countries around the world. With its core advantages of self-developed chips and self-built factories for many years, Huazhi has always maintained the industry's leading R&D and manufacturing capabilities, winning the trust and cooperation of many global automakers and autonomous driving companies. Especially in terms of patents, Huazhi has laid out more than 1,500 patents globally, and the number of core technology patents for lidar is in a leading position in the industry.
In the global L4 level autonomous driving market, Huazhi has a market share as high as 74%, and it has been ranked first for multiple years, demonstrating its dominant position.
Through the dual-wheel growth of the ADAS and L4 businesses, Huazhi has achieved healthy financial performance and has become the only lidar enterprise with positive cash flow from operations in 2023. Based on the huge demand for intelligent automobiles in China and the company's unique advantage of globalized business, Huazhi is expected to continue its industry-leading position in 2024.
In the future, Huazhi will continue to launch more competitive lidar products to meet the needs of L2 to L4 level autonomous driving. As advanced assisted driving functions mature globally and the commercial landing of L3 level and higher autonomous driving, lidar will expand into a broader market range. Huazhi will also break through with a highly resilient business system and strong mass production capabilities, stepping into the global market.