Joint Venture with SAIC to Accelerate Autonomous Driving in China
Today, SAIC Motor Corporation and TTTech Computertechnik AG have signed a joint venture contract. SAIC and TTTech will set up a joint venture company, SXT with a 50.1:49.9 ratio in shares, to accelerate the integration and development of the intelligent driving control central system (iECU) and enhance the core technological capabilities in the intelligent driving field.
With its product MotionWise, TTTech is the leading global provider of a safety software and integration platform for groundbreaking automated driving. The joint venture will further consolidate SAIC Group’s first-mover advantage in intelligent driving technology and ensure that its own brand of intelligent driving cars will be the first mass production in China that is planned to be launched this year. SAIC Group is China’s largest auto group, ranking 41st in the 2017 Global 500 list, and 7th in the global automotive industry. The company is shifting from a traditional manufacturing enterprise to becoming a comprehensive integrated automotive products and service provider for consumers. SAIC Group started independent research on intelligent driving system key technologies as early as 2013, and went into strategic cooperation with international leading companies such as Mobileye, Infineon, China Mobile, Huawei, Invista and Qualcomm. At present, SAIC Group conducts research on intelligent driving technologies in closed test areas such as highways, special parks and urban ground and underground parking lots. The accumulated mileage of vehicle testing exceeds 50,000 kilometers. In March of this year, SAIC Group was awarded the first domestic intelligent network-linked automobile road test license that will effectively promote SAIC’s intelligent driving technology to take the lead in mass production.
According to the plan, the joint venture has a registered sufficient equity and will be engaged in the development, manufacturing and sale of advanced driver assistance systems, automated driving electronic control units and related components. The portfolio includes self-produced products sales, wholesale, import and export as well as services for the domestic market including market development, technology development, technical consulting and after-sales services.
The Intelligent Driving Central Controller (iECU) produced by the joint venture will be installed on the first domestically produced intelligent driving vehicle that SAIC Group will launch this year. A pure electric high-end model – the production version of the Roewe Wings concept car that can realize intelligent driving functions such as “last kilometer autonomous parking” – will allow for an utterly new driving experience for consumers.
Read more about the joint venture in this press release: https://www.tttech.com/news-events/press-corner/details/saic-and-tttech-establish-joint-venture/