Chinese carmaker Chery has announced a strategic funding agreement for domestic chip powerhouse Horizon Robotics, as part of a collaboration to roll out at least five intelligent vehicles with advanced driving assistance capabilities. A Chinese partner of Jaguar Land Rover, Chery is on track to release the first sedan under its premium EV marque Exeed next year. Codenamed E03, it will be equipped with Horizon’s latest Journey 3 artificial intelligence processor, enabling automated driving in urban situations. The seven-year-old chipmaker has secured a war chest of at least $3.4 billion from big auto names including SAIC, BYD, and Great Wall Motor since its inception, according to the company database website. [Horizon Robotics statement, in Chinese]
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