On November 28th, Hongjing Intelligent Driving announced the completion of billions of yuan in Series B financing, which was led by CITIC Jinshi, and followed by many well-known investment institutions such as Bojiang Capital, Jianxin Investment, Taida Venture Capital, Chunxin Hongtu, Dingxin Capital, and Guolian Securities.
Additionally, Hongjing Intelligent Driving announced that this round of financing will mainly be used for the research and development of new products and for expanding production capacity.
Furthermore, in a tweet, Hongjing Intelligent Driving stated that they will continue to maintain the “one-generation mass production, one-generation research and development” strategy, and continue to invest in the research and development of new products.
At last year’s Guangzhou Auto Show, Hongjing Intelligent Driving launched the industry’s first lane-parking one-stop solution based on the Horizon Journey 2 series chip carried by fuel vehicles. In the middle of this year, Hongjing Intelligent Driving launched a lane-parking one-stop system solution based on three Horizon Journey 3 chips, with a hardware solution of 5R 10V 12U, which can achieve more than 20 driving/parking functions. Hongjing Intelligent Driving has also built a high-speed navigation function based on this platform.
In terms of landing projects, Hongjing Intelligent Driving’s L2 assistance driving product has obtained multiple project launches with domestic leading automakers such as SAIC, Great Wall Motors, BYD, NIO, and Chery.
Regarding factories, Hongjing Intelligent Driving has built two factories in Hefei and Shanghai. The recently launched Jinshan factory in Shanghai is expected to soon begin its second-phase construction, further realizing the automation and intelligence of the production line.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.