Motovis Secures Several Hundred Million Yuan in C-Round Financing

Self-driving technology firm Motovis announced on Monday that it has secured C-round strategic investment from Continental AG. The two companies will work together to collaborate and develop smart mobility solutions to advance the mass production of self-driving technology. The total amount of financing in this round is hundreds of millions of yuan.

Motovis and Continental AG Group will jointly develop and promote intelligent travel solutions that are suitable for Chinese road scenarios and that can reduce costs. Their new systematic solution can cover all kinds of passenger car models from low-cost models to advanced models. It features multi-function, low cost, low power consumption and high security, supports mainstream computing chip platforms, and can expand the advanced differentiation function suitable for higher automated driving level.

Founded in early 2015, Motovis is an intelligent driving tech firm that provides front-loading mass production products. It mainly focuses on product research and development and business development in two core markets: passenger cars and commercial vehicles. It develops automatic driving algorithms and hardware systems, and has accumulated full-stack algorithms including parking and driving; cabin and extravehicular; forward-looking and looking around; standard and customized; and cross-chip platform engineering capabilities.

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In the field of passenger cars, its intelligent driving function has been mass-produced by many passenger car main engine factories such as GAC Motor. Its fastest-moving models will reportedly be mass-produced within the year. In the field of commercial vehicles, its products have been installed and mass-produced in front of commercial vehicle main engine factories such as Shaanxi Automobile Group, Dongfeng Motor Corporation, Dongfeng Liuzhou Automobile and Dayun Automobile.

Automated driving is considered by Continental AG as one of the strongest growing businesses in the automotive industry. The firm provides solutions for vehicles, machinery and equipment, traffic and transportation on a global scale. It started operations in China in 1994, and has since served major vehicle manufacturers in various automotive segments, with more than 20 years of experience in the development of driver assistance systems.