Facilitating Preloaded "Powered by Mobileye" in Xpeng Motors' New Launch
HONG KONG, Oct. 31, 2017 /PRNewswire/ -- Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), the largest e-commerce platform serving the electronics manufacturing industry in China, is pleased to announce the 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 ("Xpeng Motors") preloads Powered by Mobileye as key module to provide visual perception in its latest vehicles.
According to the China Association of Automobile Manufacturers, auto sales in China reached RMB 20.2 billion during the first nine months of 2017. 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 RMB 200 billion by 2020 as the new regulations accelerate ADAS penetration.
In June 2017, UCAR led a RMB 2.2 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.
Mr. Jeffrey Kang, CEO of Cogobuy Group, said, "With strong government support, China's auto industry has entered the new age of smart driving. INGDAN.com is the top technology transfer platform addressing traditional corporates' pain points during AI adoption in the automotive industry. INGDAN.com has initiated discussion with a numerous China automakers for cooperation, with Xpeng Motors as one of the companies which have recently signed up for partnership. Facilitating the collaboration between Xpeng Motors and Mobileye underscores INGDAN.com's leading position in accelerating intelligent manufacturing in the automotive industry.
"In view of The Ministry of Transport's new requirement for business vehicles of lengths of 9 meters or above to have LDS (Lane Departure Warning) systems and FCW (Front Collision Warning) systems installed as standards, INGDAN.com has been in touch with manufacturers of coach buses, heavy locomotives, and special-purpose vehicles for potential cooperation. Some may be able to deliver mass-production by May 2018 to comply with the new standards. We view our strategic partnership with Mobileye as a potential gateway to new clients, and another way to better support the Chinese auto industry as it embraces intelligent manufacturing."
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About Cogobuy Group
Cogobuy Group is the largest e-commerce service platform serving the electronics manufacturing industry in China. Through the e-commerce platform, which includes a direct sales platform, an online marketplace, and a dedicated team of technical consultants and professional sales representatives, the Company provides customers with comprehensive online and offline services across pre-sale, sale, and post-sale stages. The Company serves mainly SME electronics manufacturers. For further information, please refer to the Company's website at http://www.cogobuy.com/
About INGDAN.com
INGDAN.com is a platform dedicated to connecting global intelligent hardware entrepreneurs and China-based supply chain resources. The platform provides information on hardware innovation, supply chain data, and supply chain demand docking for global IoT innovators and entrepreneurs. It is a one-stop hardware innovation business platform with a core focus on the supply chain. For further information, please refer to the Company's website at http://www.ingdan.com/
About Mobileye
Founded in 1999, in Jerusalem, Israel, Mobileye is the global leading supplier for Advanced Driver Assistance Systems (ADAS) and autonomous driving. With its cutting edge vision-safety technology, data analysis, sensing, and mapping, Mobileye is the "third eye" on the road, capable of reducing or mitigating the risk of collision. Mobileye is the supplier to 30 world-leading automakers, and its vision safety technology deployed on over 20 million vehicles. In addition, Mobileye is developing autonomous driving technologies with 10 other automakers. For more, please go to http://www.mobileye.com/
About Guangzhou Xiaopeng Motors Technology ("Xpeng Motors")
Founded in 2014, Xpeng Motors is the first Internet-based automaker with the ability to mass-produce its cars. Xpeng Motors aims to delight drivers with new technologies, new designs, and customer-centric business models. The Company is committed to serving its customers by involving them in the development process, and listening carefully to feedback in order to build cars that meet drivers' needs. In May 2017, Xpeng Motors settled into its new manufacturing base in Zhaoqing City, Guangdong Province, for a total investment of over RMB 10 billion. It expects to reach annual capacity of 100,000 units when it goes into production. For more, please go to https://www.xiaopeng.com/index
