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SHENZHEN, China, June 6, 2023 /PRNewswire/ -- Addentax Group Corp. ("Addentax" or the "Company") (Nasdaq: ATXG), an integrated service provider focusing on garment manufacturing, logistics services, property management and subleasing, and epidemic prevention supplies, today announced that on June 5, 2023 it entered into a strategic cooperation agreement (the "Agreement") with Auto City (Shenzhen) Autonomous Driving Co., Ltd. ("Auto City"), a Shenzhen based company specializing in artificial intelligence ("AI") cloud based Level 4 ("L4") Autopilot research and development ("R&D"), manufacturing and application, and digital city full industry chain solutions. This strategic cooperation marks a pivotal step for Addentax as it seeks to expand its business footprint and diversify its revenue streams. Pursuant to the Agreement, the two parties will work together on the development autonomous driving technology project, including but not limited to marketing, research and development, production, and application of new energy autonomous clean vehicles, as well as R&D and applications of automatic charging and battery technology. Additionally, Addentax and Auto City are in deliberations with other industry frontrunners in the new energy vehicle, electric vehicle ("EV") battery and autopilot arenas to foster technology and application partnerships. The shared objective of the parties is to drive project developments and applications of leading-edge autonomous driving technology and new energy battery technology initially in the Guangdong Province first. Auto City is a cutting-edge technology company focusing on the R&D, production, and application of advanced autonomous vehicles. It boasts deep-rooted involvement in the digital city service sector, reinforced by an AI intelligence management platform. Auto City addresses the traditional city service industry's challenges head-on, fostering safer, smarter, and environmentally-friendly digital city solutions. Auto City's elite R&D team comprises alumni from prestigious universities such as Massachusetts Institute of Technology, University of California, Berkeley, Stanford University, Tsinghua University and The Chinese University of Hong Kong, while its key management team consists of luminaries from leading autopilot companies, EV corporation founders, and experienced industry stalwarts. Addentax has expressed a prospective interest in becoming a major shareholder in Auto City. The parties plan to intensify its collaborations, focusing on the further evolution of L4 Autopilot technology, R&D of new energy clean vehicles, and associated auto charging/battery technology research and applications. Addentax is excited to announce this cooperation. The cooperation with Auto City represents an exciting chapter for Addentax. This strategic cooperation marks a pivotal step for Addentax as it seeks to expand its business footprint and diversify its revenue streams into AI autopilot, electric vehicle and EV battery areas. In line with its strategic goal to consolidate and grow its existing business portfolio, Addentax is eager to seize opportunities in emerging industries to strengthen its revenue streams. With Auto City's expertise in the autonomous driving field, Addentax anticipates that this partnership will catalyze its expansion and further elevate shareholders' value. About Addentax Group Corp. Addentax Group Corp. is an integrated service provider specializing in garment manufacturing, logistics services, property management, subleasing, and epidemic prevention supplies. Its apparel manufacturing business includes sales to wholesalers and is based in China. The logistics business, which includes delivery and express services, covers 79 cities in 7 provinces and 2 municipalities in China. The property management and subleasing business provides relevant services to clothing wholesalers and retailers in the apparel market. The epidemic prevention supplies business includes manufacturing and distributing quarantine products, as well as reselling supplies purchased from the third parties in domestic and overseas markets. More information please visit the website: https://www.addentax.com/. Safe Harbor Statement All statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur. Company Contact: Addentax Group CorpPhone: + (86) 755 86961 405 Investor Relations Contact:Sherry ZhengWeitian Group LLC1-718-213-7386shunyu.zheng@weitian-ir.com
BEIJING, June 1, 2023 /PRNewswire/ -- Cheche Technology Inc. ("Cheche Technology" or the "Company"), China's leading auto insurance technology platform, announced the release of its EV 2.0 Upgrade Solution featuring the Sky Dome Risk Management Platform. This comprehensive business intelligence platform synthesizes various categories and levels of data, augmented by machine learning, to drive superior capabilities in underwriting, pricing, claims management, and group fraud detections. After more than two years of research and development, Cheche's 2.0 Upgrade Solution is connected to more than ten leading insurance companies, including the People's Insurance Company of China, Ping An Insurance Group, and China Pacific Insurance. It currently serves more than ten of the top NEV companies, including NIO, Li Auto, Xpeng, and JIDU. The platform spans software-as-a-service (SaaS) systems, insurance company application programming interface ("API") integrated management, digital operations, and value-added services. Five advantages set this technology apart from any competing offering: Complete Integrated Technology Platform: Cheche Technology is the first in the industry to launch the integration of the C (car owner's APP) + A (car enterprise) model via the Cornerstone Insurance SaaS Operation Management System, offering comprehensive capabilities of new policies and renewals, data management, platform interconnectivity, and one-key access to ensure service quality and the timeliness of the consumer's transactions. Extensive Insurance Partner Network Connections: Cheche has established relationships with approximately 100 domestic insurance companies, including about ten insurance companies that have established API interfaces to collaborate with the electric vehicle manufacturers, allowing Cheche to provide consumers a painless, one-stop insurance application experience. Proven Benefits to Customers and Partners: The platform has demonstrated success in digital operation management, specifically in areas such as user management, enterprise-level management, and contract management, realizing effective underwriting rule operation and maintenance, digital insurance marketing, user funnel conversion, and financial settlement, among other functions. Valuable Data-driven Insights: Cheche can engage in in-depth data mining and analysis on consumer habits and NEV usage scenarios to enable value-added product innovation. Sharing the data across the ecosystem allows auto manufacturers and insurance companies to improve consumer experiences, launch additional services and customized non-auto insurance products, and increase consumer stickiness. NEV-focused Nationwide Service Network: The Company is harnessing the service advantages of a large network and has established more than 110 provincial and municipal locations nationwide with a dedicated service team of over 400 people. Sky Dome Risk Management Platform Leveraging AI and Machine Learning The Upgrade's biggest highlight is the company's enhanced ability to identify and manage risk. The Sky Dome insurance anti-fraud model combines static factors and dynamic variables such as a risk-rule engine and a personal injury database to identify anti-fraud behavior during claims settlements. Variables are screened through different algorithms and regression analyses. The product is easy to operate, easy to deploy, and scalable. "The Sky Dome integrated solution is revolutionizing the underwriting process, providing a streamlined approach to risk mitigation and crafting policies more appropriately tailored to consumer needs, maximizing the value and satisfaction when purchasing a new vehicle," said Lei Zhang, CEO of Cheche Technology. "Optimized pricing and superior fraud detection not only drive efficiencies that boost the carriers' bottom line, but ultimately reduces the total cost of vehicle ownership." While often difficult to detect initially, the Chinese auto industry continues to be plagued by claims fraud. Accounting for local risk characteristics in different regions, the risk control model accurately identifies risks, helping insurance companies optimize pricing and loss ratios. The accuracy of a risk management model is highly dependent on the data quality it synthesizes, such as loss history and the driver's personal information. "While the Comprehensive Reform of Auto Insurance has led to greater pricing flexibility, companies don't always have effective guidelines to enforce real-time precision pricing strategies. Sky Dome can derive price recommendations by region, enabling insurance carriers to manage pricing strategies better and launch promotions more effectively," continued Lei Zhang. "We are very encouraged by the initial reception to this innovative solution by many of China's largest insurers. We plan to continue ramping up investments in artificial intelligence and big data technology to drive the digitalization of insurance products, making them more efficient and accessible to consumers." An insurance company relying strictly on its own resources is unlikely to deliver the most effective claims risk detection, but with the Auto Insurance Risk Management Platform, a company can accurately determine a risk score after predicting the exposure of the personal passenger vehicle and its potential economic loss. Once driver, vehicle, and accident location data are processed, the platform can detect fraudulent group events in real-time, helping to correctly calibrate the accuracy of policy pricing, underwriting management, and claims management. Cheche Technology announced on January 30, 2023, that it had entered into a definitive business combination agreement with Prime Impact Acquisition I ("Prime Impact") (NYSE: PIAI), a publicly traded special purpose acquisition company, that will result in Cheche Technology becoming a publicly listed company. Upon closing, the combined company will be listed on Nasdaq under the new ticker symbol CCG. About Cheche Technology Established in 2014 and headquartered in Beijing, China, Cheche Technology is a leading auto insurance technology platform, with a nationwide network of around 110 branches licensed to distribute insurance policies across 24 provinces, autonomous regions, and municipalities in China. Capitalizing on its leading position in auto insurance transaction services, Cheche Technology has evolved into a comprehensive, data-driven technology platform that offers a full suite of services and products for digital insurance transactions and insurance SaaS solutions in China. Learn more at https://www.chechegroup.com/en. About Prime Impact Prime Impact is a Cayman Islands exempted company formed on July 21, 2020, for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination involving Prime Impact and one or more businesses. Prime Impact is focused on partnering with experienced management teams building innovative, data-centric technology or technology-related companies in key Asian markets with a focus on the Greater China market. Prime Impact is led by Co-Founder, Co-CEO and CFO Mark Long and Co-Founder and Co-CEO Michael Cordano. Learn more at https://ir.primeimpactcapital.com. Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the estimated implied enterprise value of the Combined Company, Cheche Technology's ability to scale and grow its business, the advantages and expected growth of the Combined Company, the Combined Company's ability to source and retain talent, the cash position of the Combined Company following closing of the Proposed Transaction, Prime Impact's and Cheche Technology's ability to consummate the Proposed Transaction, and expectations related to the terms and timing of the Proposed Transaction, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Prime Impact's and Cheche Technology's management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although each of Prime Impact and Cheche Technology believes that it has a reasonable basis for each forward-looking statement contained in this press release, each of Prime Impact and Cheche Technology cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there will be risks and uncertainties described in the proxy statement/prospectus included in the Registration Statement relating to the Proposed Transaction, which is expected to be filed by the Combined Company with the Securities and Exchange Commission (the "SEC") and other documents filed by the Combined Company or Prime Impact from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Neither Prime Impact nor Cheche Technology can assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to complete the Proposed Transaction due to the failure to obtain approval from Prime Impact's shareholders or satisfy other closing conditions in the Business Combination Agreement, the occurrence of any event that could give rise to the termination of the Business Combination Agreement, the ability to recognize the anticipated benefits of the Proposed Transaction, the amount of redemption requests made by Prime Impact's public shareholders, costs related to the Proposed Transaction, the impact of the global COVID-19 pandemic, the risk that the Proposed Transaction disrupts current plans and operations as a result of the announcement and consummation of the Proposed Transaction, the outcome of any potential litigation, government or regulatory proceedings, and other risks and uncertainties, including those to be included under the heading "Risk Factors" in the Registration Statement to be filed by the Combined Company with the SEC and those included under the heading "Risk Factors" in the annual report on Form 10-K for year ended December 31, 2022 of Prime Impact and in its subsequent quarterly reports on Form 10-Q and other filings with the SEC. There may be additional risks that neither Prime Impact nor Cheche Technology presently know or that Prime Impact and Cheche Technology currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of Prime Impact and Cheche Technology as of the date of this press release. Subsequent events and developments may cause those views to change. However, while Prime Impact and Cheche Technology may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of Prime Impact or Cheche Technology as of any date subsequent to the date of this press release. Except as may be required by law, neither Prime Impact nor Cheche Technology undertakes any duty to update these forward-looking statements. Additional Information and Where to Find It In connection with the Proposed Transaction, Prime Impact and the Company intend to cause a registration statement on Form F-4 to be filed with the SEC, which will include a proxy statements to be distributed to Prime Impact's shareholders in connection with Prime Impact's solicitation for proxies for the vote by Prime Impact's shareholders in connection with the Proposed Transaction and other matters as described in the registration statement, as well as a prospectus relating to the Company's securities to be issued in connection with the Proposed Transaction. Prime Impact's shareholders and other interested persons are advised to read, once available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus, in connection with Prime Impact's solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the Proposed Transaction, because these documents will contain important information about Prime Impact, the Company and the Proposed Transaction. After the registration statement is filed and declared effective, Prime Impact will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date to be established for voting on the Proposed Transaction. Shareholders may also obtain a copy of the preliminary and definitive proxy statement/prospectus to be included in the registration statement, once available, as well as other documents filed with the SEC regarding the Proposed Transaction and other documents filed with the SEC, without charge, at the SEC's website located at www.sec.gov. Participants in the Solicitation Prime Impact, Cheche Technology and their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from Prime Impact's shareholders in connection with the Proposed Transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Prime Impact's shareholders in connection with the Proposed Transaction will be set forth in the proxy statement/prospectus included in the Registration Statement to be filed with the SEC in connection with the Proposed Transaction. You can find more information about Prime Impact's directors and executive officers in Prime Impact's final prospectus related to its initial public offering dated September 9, 2020. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above. No Offer or Solicitation This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential Transaction, and does not constitute an offer to sell or the solicitation of an offer to buy any securities of Prime Impact, the Company or the combined company, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. Prime Impact:Mark Long investorinfo@primeimpactcapital.com(650) 825-6965 Cheche Technology:IR@chechegroup.comCrocker Coulsoncrocker.coulson@aummedia.org(646) 652-7185
SAN FRANCISCO, May 24, 2023 /PRNewswire/ -- Dreametech, a fast-growing technology company and leading manufacturer of home cleaning appliances, is excited to announce the launch of its highly anticipated D10s series of robot vacuums in the United States market. The D10s series includes two models, the D10s Pro and the D10s Plus, both of which make advanced features — including AI-powered obstacle recognition, advanced LDS mapping, and a powerful 5,000Pa suction — available at an affordable price point (D10s Plus $439.99, D10sPro $299.99). Dreametech D10s Plus Auto-Empty Robot Vacuum with AI to Launch in US D10s Plus is the standout product in the D10s series. Featuring a base station that automatically empties the robot's dust box — powered by Dreametech's exclusive DualBoost 1.0 auto-empty system that empties quickly and prevents clogging — D10s Plus is the ideal choice for busy households. With a maximum dust collection period of 65 days, thanks to the extra-large 4L dust bag, D10s Plus has the longest dust collection period out of any robot vacuum on the market retailing for less than $550. This feature alone makes it a must-have for anyone looking for a low-maintenance cleaning solution that allows them to essentially forget about vacuuming their home. In addition to its impressive dust collection capabilities, D10s Plus also boasts Dreametech's powerful AI Action and advanced LiDAR navigation technology, making it one of the few robot vacuums at its price point that uses AI technology. The advanced navigation system allows D10s Plus to map out your home and clean it with precision, ensuring that every inch of your floors is thoroughly cleaned. AI Action intelligently identifies obstacles and determines how best to clean around them, allowing D10s Plus to effectively avoid hazards without compromising its cleaning capabilities. D10s Plus also features a bristleless-rubber brush design, which effectively cleans hard floors by grabbing dirt and stirs up deeply embedded debris in carpet, while still being gentle on your floors. With a massive 5,000 Pa suction power, D10s Plus boasts the strongest suction rating of any robot vacuum on the market under $550. Its 5200mAh battery capacity also ensures prolonged continuous cleaning, making it the perfect choice for individuals or families with larger homes. For those looking for all of these advanced features but not in need of an auto-empty base station, the D10s Pro is available in the series. D10s Pro offers the same advanced AI, LiDAR navigation, and powerful suction as D10s Plus, without the extra expense or space required for the base station. The D10s series robot vacuums can be purchased on Dreametech's Amazon Store. From May 24–June 6, customers can enjoy exclusive discounts on both models in the series. Save $110 on D10s Plus with the code "D10splus110" to get a huge discount off the original price of $549.99. Alternatively, get $100 off D10s Pro with the code "D10sPro100" to save big time on the original $399.99 price tag. "We are thrilled to bring the D10s series robot vacuums to the US market," said Product Manager for Dreametech. "With their advanced features and affordable price point, we believe they will be a game-changer in the home cleaning industry. We can't wait for customers to experience the convenience and efficiency of these innovative products." For more information about the D10s series robot vacuums, please visit the Dreametech website. About Dreame Technology Established in 2017, Dreame Technology is an innovative consumer product company that focuses on smart home cleaning appliances with the vision to empower lives through technology. Follow us on Facbook, Instagram and Twitter. For more information please visit: https://www.dreametech.com/.
SINGAPORE, May 18, 2023 /PRNewswire/ -- CloudKeeper, a global leader in AWS FinOps and Cost Optimization space, has announced the launch of CloudKeeper Auto, a Zero-touch AI-based AWS reservation management platform. The solution is specifically designed to help organizations optimize their AWS EC2 reservations, while also providing significant cloud cost savings. Businesses can save significant costs on AWS through its offerings like Reserved Instances (RIs) and Saving Plans that require a 1-year or 3-year commitment. But, it is often difficult for businesses to predict their usage and make such long-term or large-volume commitments. Striking a balance between the cost of obtaining new resources and maintaining operational flexibility, while minimizing cloud waste, has always been a challenging trade-off. CloudKeeper Auto helps tackle this challenge by combining the flexibility of On Demand instances and the cost-effectiveness of Reserved Instances. Using CloudKeeper Auto, organizations can buy AWS compute instances on-demand, at 3-Year Reserved Instance pricing, which is the highest discount tier for reservations. Notably, the solution does not require any type of volume or term commitment from the user. The proprietary AI engine automatically buys/sells RIs on behalf of the organization, with just a simple IAM access to their AWS account. CloudKeeper charges only 18% of the total EC2 savings as a platform fee, which is one of the most competitive fees in the market. CloudKeeper Auto completely takes away all manual dependencies on RI management and delivers substantial savings with - Automated buying/selling of RIs on the secondary marketplace Guaranteed buyback of RI reservations made through the platform Risk-free coverage with no commitments and no billing transfer The company also offers CloudKeeper AZ, a comprehensive cloud cost optimization solution that provides savings, software, and services, all bundled into one. The solution provides free access to their proprietary AWS Cost Analytics Platform and well-architected reviews from AWS-certified cloud experts. CloudKeeper AZ contractually guarantees savings on the entire AWS bill right from Day 1 of engagement. However, not all AWS users could benefit from CloudKeeper AZ due to concerns with billing transfer, their own contractual obligations towards programs like AWS EDP, and more. CloudKeeper Auto, however, resolves these concerns with no requirements for billing transfer or commitment, and a zero-touch, AI-driven RI management system. With two distinct solutions tailored to meet various objectives of cloud cost optimization, CloudKeeper has now carved a niche for itself as a unique FinOps Solution Provider. "At CloudKeeper, we have always been committed to solving cloud cost challenges. Our new solution is a direct response to the market feedback from those who could not leverage the potential of CloudKeeper AZ, due to multiple reasons. We hope to expand our reach to a broader set of AWS consumers, with a stronger arsenal of features," said Deepak Mittal, CEO, CloudKeeper. "CloudKeeper Auto is capable of delivering superior and sustainable cost savings to all kinds of businesses across the world, completely risk-free!" About CloudKeeper CloudKeeper is an AWS Cost Optimization and FinOps solution that offers savings, software, and services, all bundled into one solution. Trusted by over 300 customers globally, CloudKeeper offers instant and guaranteed cost savings on AWS bills and has delivered more than $100 million in annual savings. Backed by 12+ years of successful cloud transformations, CloudKeeper has been helping multiple businesses, across domains harness the true potential of the cloud. To learn more about CloudKeeper, visit https://www.cloudkeeper.ai. For more information, please contact: Raman MittalCMO, CloudKeeperE-mail: raman.mittal@tothenew.comCall: +91-9971714434
SHANGHAI, May 18, 2023 /PRNewswire/ -- Ambilight Inc, a pioneer in flexible electrochromic technology, recently unveiled the world's first black-gray EC dimming product for Vehicles at the 20th Shanghai International Automobile Industry Exhibition. This revolutionary product provides a comprehensive solution for vehicle thermal management and represents a significant technological breakthrough and product definition within the entire dimming industry. The product launch was met with great enthusiasm from car manufacturers, partners, and customers at the auto show. Among the vehicle products launched by Ambilight Inc at the exhibition were the EC dimming sunroof, EC sidelite, and solid-state EC auto dimming rearview mirror. The EC projection combined with side window projection technology was also introduced to enhance the in-car viewing experience. These products are intelligently designed to adjust light, regulate temperature, and maintain privacy, thereby improving driving comfort and safety and enhancing the quality and technological feel of the vehicle. As an expert in vehicle light and heat control, Ambilight Inc's EC dimming products have extensive domestic and international market prospects. The intelligent development of the automotive industry has made the design of vehicle cabins tend toward tech and multifunctionality. As a part of cabin design, the dimming function not only improves driving comfort and safety but also helps enhance the quality and technological feel of the vehicle. Ambilight Inc is currently the only company globally that can achieve mass production of dimming products on curved surfaces, making its all-in-one dimming products, EC dimming insulation canopy, and EC dimming sidelite highly sought-after in the market. According to relevant surveys, the market demand for dimming products is expected to witness an increasing trend over the next few years. Ambilight Inc's EC dimming products, based on flexible electrochromic technology, are poised to occupy a significant market share, having already been installed in vehicles from brands such as NIO, BYD, and ZEEKR. Looking to the future, Ambilight Inc plans to further improve technology research and development, product quality, and create a globally leading brand with core competitive advantages, becoming a crucial leading entity in industry development. CONTACT: info@ambilightinc.com
Mass Production of the First NETA Model Featuring Journey 5 to Begin in 2024 SHANGHAI, May 15, 2023 /PRNewswire/ -- Horizon Robotics, a leading provider of energy-efficient computing solutions for advanced driver assistance systems (ADAS) for consumer vehicles, and NETA Auto, a renowned Chinese electric vehicle brand owned by Hozon New Energy Automobile, announced the expansion of their strategic cooperation agreement. Under the agreement, Horizon Robotics will support NETA Auto to develop its proprietary BEV (Bird's Eye View) perception solution, powered by Horizon Robotics' third-generation computing solution, Journey 5. The new and improved driver's assistance system will revolutionize the driving experience for consumers in China and is expected to be featured in multiple NETA vehicle models, with the first model to be mass-produced in 2024. Furthermore, the two partners' ongoing collaboration on Horizon's Journey 3 computing solution is extended to more NETA models, including the new NETA GT. This beautiful 2-door electric sports car made its debut at the Shanghai Auto Show 2023 and features Level 2 assisted driving functions. Designed for young Chinese drivers, the NETA GT offers a unique combination of high-performance and advanced driving assistance, ensuring a safer and more relaxing driving experience. NETA GT Horizon and NETA Auto's shared commitment to consumer value and the improvement of driving safety and convenience forms a strong foundation for a long-term partnership to explore future mobility possibilities. In September 2021, Horizon and NETA Auto officially entered into a comprehensive strategic cooperation. Shortly after in 2022, the first model equipped with Horizon's Journey 3 computing solution, NETA U-II, was introduced to the market. With over 22 driver assistance features, including Lane Keeping Assist, Highway Assist and Automated Parking Assist, the NETA U-II received great feedback from Chinese consumers, thanks to its enhanced functionality, improved performance, and enjoyable driving experience. Looking ahead, Horizon and NETA auto will continue to work together, making high-quality smart vehicles more accessible and reshaping the relationship between people and their vehicles. Both companies aim to create an enjoyable mobility life and a "third living space" beyond home and office for consumers in China. About Horizon Robotics Horizon Robotics is a leading provider of energy-efficient computing solutions for advanced driver assistance systems (ADAS) and automated driving (AD) for consumer vehicles, with the mission to make human life safer and better. As a pioneer to commercialize embedded passenger-vehicle ADAS and AD products in China, Horizon Robotics is committed to enhancing next-generation driving experiences by integrating hardware and software, including low-power hardware computing solutions and open software development tools. By closely collaborating with a community of partners, Horizon Robotics offers products and services that enable an open ecosystem to accelerate the transformation of smart electric vehicles.
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