With the continuous breakthrough of artificial intelligence technology, the smart solution market has become the focus of competition for global technology giants. Recently, Horizon Robotics, a provider of intelligent driving computing solutions, officially submitted an IPO application to the Hong Kong Stock Exchange under the joint sponsorship of China Securities Construction Investment International, Goldman Sachs and Morgan Stanley, which not only attracted wide attention in the industry, but also indicated that a new round of competition in the field of intelligent driving is about to begin.
Since its establishment, Horizon Robotics has been focusing on the research and development of intelligent driving solutions. In 2016, Horizon Robotics officially released the first-generation BPU, in 2017, it released the first-generation processing hardware Journey, in 2020, Horizon Robotics and car companies reached the mass production launch of Horizon Mono equipped with Journey 2, and since then it has entered the fast lane of development, and in 2021, Horizon (Horizon Robotics) reached 1 million processing hardware deliveries, 4 million processing hardware deliveries in 2023, and 5 million processing hardware deliveries in March 2024. Amazingly, Horizon Robotics achieved its fifth shipment of 1 million units in just a few months, showing a strong "get on the bus" post-force.
As a market-leading provider of advanced driver assistance (ADAS) and advanced autonomous driving (AD) solutions for passenger cars, Horizon Robotics has mass-produced solutions that combine hardware and software, and is a key enabler of the transformation and commercialization of intelligent vehicles. Up to now, Horizon Robotics can provide comprehensive intelligent driving solutions, including Horizon Matrix Mono, Horizon Matrix Pilot, Horizon Matrix SuperDrive, etc., to meet the different needs of customers from low-end to high-end. In addition, Horizon can also provide basic technical support including algorithms, BPU, Horizon Tiangong Kaiwu, Horizon Song, Horizon Eddie, etc.
According to the analysis of CIC Consulting, compared with an international supplier with the largest market share of intelligent driving solutions in China, Horizon's solutions are in a leading position in terms of automotive intelligent driving coverage, openness, system computing efficiency, service and customer responsiveness, and system cost performance.
Thanks to its leading market competitiveness, Horizon Robotics is developing at an unprecedented pace. In 2023 alone, Horizon Robotics has already secured more than 100 new model designations. As of the disclosure date of the prospectus (March 26), Horizon Robotics' integrated software and hardware solutions have been adopted by 24 OEMs (31 OEM brands) and equipped with more than 230 models. All 10 Chinese OEMs have chosen Horizon Robotics' solutions for the mass production of their passenger models. Among them, more than 200 OEM models have selected Horizon Mono, more than 25 OEM models have selected Horizon Pilot, and Horizon SuperDrive is also rapidly advancing.
Not only that, data shows that as early as 2022, Horizon Robotics' market share in the field of advanced assisted driving is only 3.7%, significantly lower than that of other international manufacturers, and by 2023, Horizon Robotics' shipments have reached 850,000 units, expanding its market share to 21.3%, and narrowing the gap with the largest supplier market share to 5.3% (shipments of 1.07 million units). In the field of advanced assisted driving and advanced autonomous driving, Horizon Robotics' market share has also increased rapidly from 2.2% in 2022 to 9.3% (1.09 million units) in 2023, becoming the only company with an increase in market share among the top five suppliers.
It is worth looking forward to the fact that Horizon Robotics is expected to launch the next-generation Journey ®6 on-board intelligent computing solution with stronger intelligent driving scenario response capabilities at the Beijing Auto Show in April 2024.