[ET Net News Agency, 31 October 2017] Cogobuy Group (00400) said "IngDan.com Powered by
Mobileye Program" has achieved a breakthrough in China's autonomous drive market, as
leading internet-based automaker Guangzhou Xiaopeng Motors Technology preloads "Powered by
Mobileye" as key module to provide visual perception in its latest vehicles.
IngDan is a subsidiary of Cogobuy.
Auto sales in China reached 20.2 million units during the first nine months of 2017,
according to the China Association of Automobile Manufacturers.
Additionally, China's new automotive safety regulation will require business vehicles to
be equipped with advanced driver-assistance systems (ADAS), creating a huge market for
ADAS products.
Market researchers predict the total output of China's ADAS market to reach RMB200
billion by 2020 as the new regulations accelerate ADAS penetration.
In June 2017, UCAR led a RMB2.2 billion investment into Xpeng Motors to support R&D,
product assembly, manufacturing, and after-sales services in Xpeng Motor's effort to build
a more complete manufacturing chain. Xpeng Motors recently announced it had settled its
manufacturing base in Zhaoqing City, Guangdong Province. When put into production, it will
have an annual capacity of 100,000 units and will support a significant increase in
procurement demand for hardware in smart car production.
Founded in 1999, in Jerusalem, Israel, Mobileye is the global leading supplier for
Advanced Driver Assistance Systems (ADAS) and autonomous driving. (KL)