Horizon Robotics Officially Lists on the Hong Kong Stock Exchange
Friday, October 25, 2024
HONG KONG, Oct. 24, 2024 /PRNewswire/ -- Horizon Robotics (HKEX: 9660), a leading provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, today officially listed on the Main Board of the Hong Kong Stock Exchange.
Horizon Robotics is a key enabler for the smart vehicle transformation and commercialization with its integrated solutions deployed on mass scale. According to data from CIC (China Insights Consultancy), Horizon is the first and has consistently been the largest Chinese company providing integrated ADAS and AD solutions, leading in overall solution installation volume since the mass deployment began in 2021. Its solutions are adopted by 27 OEMs across 42 brands for implementation in 290 car models, with all of China's top ten OEMs choosing Horizon's smart driving solutions for mass production into their passenger vehicle models.
As a pioneer in the smart driving technology sector, Horizon offers a comprehensive portfolio of ADAS and AD solutions, namely Horizon Mono, Horizon Pilot and Horizon SuperDrive, to address different consumer needs from mainstream assisted driving to advanced level autonomous driving.
In his speech at the ceremony, Dr. Yu said: "After nine years of effort, we have become the preferred partner for numerous OEMs in China, and a major force in advancing the transformation towards smarter automotive technology. The successful listing in Hong Kong marks a critical step towards our international market expansion."
In 2023, the global smart driving penetration rate in new passenger cars reached 65.6%, projected to rise to 80.3% and 96.7% by 2026 and 2030, respectively. In China, the rate was 57.1% in 2023, and expected to reach 81.2% and 99.7% in the coming years, according to CIC data. As demand for smart driving features grows alongside supportive policies, the market is set for significant expansion, positioning Horizon Robotics to capitalize on this explosive growth.
Following Horizon's listing in Hong Kong, the company will continue to invest in R&D and industry collaboration, aiming to drive advancements in smart driving technology, creating greater value for consumers and investors, and fostering a safer and smarter future in mobility.
About Horizon Robotics
Horizon Robotics is a leading provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies. Its solutions combine cutting-edge algorithms, purpose-built software and state-of-the-art processing hardware, providing the core technologies for assisted and autonomous driving that enhance the safety and experience of drivers and passengers.
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SOURCE Horizon Robotics
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