FAW Auto Invests In DJI Self Driving Technology
FAW Auto wants the best self-driving tech and this is why they are investing in DJI
Qiu Xiandong, chairman of FAW Group has decided to invest more than $500 million in Zhuoyu Technology (formerly DJI Car).
FAW Group is indeed investing in DJI’s automotive business, DJI Automotive, along with BYD. This investment is part of a broader trend of traditional automakers partnering with tech companies to accelerate advancements in smart driving technology.
Both companies are looking to leverage DJI Automotive’s expertise in developing partially automated driving software to compete in the rapidly evolving smart driving market in China, alongside companies like Tesla and Huawei.
The shares were transferred from DJI Group’s old shares, which may involve a change in the actual controller of Zhuoyu Technology.
Due to the change of the actual controller, its original investors such as BYD, BAIC, and SAIC may require Zhuoyu Technology to repurchase their shares worth 200-300 million US dollars.
This investment was made by DJI Group and FAW Group, and FAW’s investment department and Zhuoyu Technology did not participate in the final decision.
So, this company was formerly known as DJI Automotive and it is the smart driving business unit of DJI. The FAW Group’s investment in Zhuoyu Technology is more than $500 million.
The investment is aimed at enhancing FAW’s capabilities in intelligent driving and related technologies. The investment could lead to advancements in areas like smart factories, autonomous driving, and vehicle-road coordination.
This investment is part of a broader trend of Chinese automakers investing in DJI’s smart driving technology, with BYD also being mentioned as a potential investor.
This investment from FAW and also BYD will help DJI Automotive further develop and deploy its intelligent driving solutions, potentially challenging established players like Huawei in the smart driving sector.
News Source: GACO Auto
