AAA weekly

2020-06-01

Copyright FOURIN, Inc. 2024

Zongmu Technology to Start Mass Production of High-precision Maps, Millimeter-wave Radars in 2020

Zongmu Technology (Shanghai) Co., Ltd. (ZongMu Tech) is a venture company whose main business is the development, manufacture and sale of ADAS (advanced driver assistance system), automatic parking assist and automatic valet parking (AVP) solutions. The company has two manufacturing bases in Xiamen (Fujian province) and Shanghai, and four R&D centers in Shanghai, Beijing, Xiamen (Fujian province) and Stuttgart (Germany).

In order to ensure stable product delivery, ZongMu Tech is promoting joint development with major customers including Chinese automakers such as Changan Automobile and GAC Group and suppliers such as Visteon. Looking at recent joint development trends, ZongMu Tech agreed with Visteon on joint development of Level 3 or higher automatic parking technology in July 2018. Furthermore, in 2019, ZongMu Tech formed business alliances with Chinese smart parking system supplier Xiamen Keytop Communications Technology, major automobile manufacturer Changan Automobile, and GAC R&D Center under GAC Group. ZongMu Tech cooperates with these companies in the fields of low-speed autonomous driving and mobility services to promote the practical application of AVP technology Regarding the development of new products, in 2019 ZongMu Tech introduced a high-precision map service, SDR1 millimeter-wave radar, 2nd-gen AVP system (AVP Gen.2) and Level 3 parking system platform with autonomous driving technology (Drop ‘n Go) among other products. The SDR1 millimeter-wave radar can provide both low-speed parking and ADAS functions on highways, and has features such as improved blind-spot detection accuracy. It is scheduled to be mass-produced starting from the fourth quarter of 2020. The AVP Gen.2 consists of four cameras, 12 ultrasonic sensors and four SDR1 millimeter-wave radars. It is expected to be installed in Hongqi brand vehicles of major Chinese automaker FAW Group starting from 2020. Practical application of the technology is planned to start in underground parking lots in 2020, in industrial parks in 2022 and in residential areas in 2024. Drop ‘n Go is available in Lite and Premium versions. Only the Premium edition is equipped with HPP (Home Zone Parking Pilot) system which does not require pre-collection of high-precision map data.

Zongmu Technology: Company Overview and History (As of April 2020)

Company Overview

Full name: Zongmu Technology (Shanghai) Co., Ltd.
Short name: ZongMu Tech
Location: Pudong New Area, Shanghai, China
Established: January 2013
Capital: Approx. 61.62 million Chinese yuan
URL: www.zongmutech.com
Corporate representative: Tang Rui
Ownership: Beijing Junlian Chengye Equity Investment Partnership 31.13%, Xiamen Defeng Jiarun Equity Investment Fund Partnership 24.12%, Shenzhen Xietong Hesheng M&A Fund No. 1 Partnership 19.31%, Shenzhen Xietong Chuangxin Travel Industry Investment 19.31%, Pingtan Jianfa No. 2 Equity Investment Partnership 6.12%
Main products: Automated valet parking (AVP), automated parking assist (APA), advanced driver assistance systems (ADAS), high-precision maps, cloud systems, etc.
Production bases: Xiamen (Fujian), Shanghai.
R&D bases: Shanghai, Beijing, Xiamen (Fujian), Stuttgart (Germany).
Employees: 177 people (as of November 2019)
Customers: Geely Automobile, FAW Group (Hongqi brand), BAIC Group, Changan Automobile, Great Wall Motor, GAC Motor, SAIC Maxus, BAIC Yinxiang, WM Motor Technology, Guoji Zhijun Automotive, Leading Ideal, etc.

Company History

January 2013: Established.
September 2013: Signed a partnership agreement with Chinese navigation system supplier Desay SV.
October 2014: Unveiled the company’s first ADAS.
May 2015: Signed an agreement to jointly develop next-generation panoramic ADAS with Chinese electronics supplier Hangsheng Electronics.
March 2016: Signed an agreement with Tsinghua University 3D Image Lab to jointly develop a deep learning algorithm-based automated driving system.
March 2016: Geely Automobile’s Boyue SUV model equipped with the ZongMu Tech’s ADAS went into mass production. The Boyue sold over 100,000 units in 2016.
September 2016: Established a wholly-owned subsidiary Beijing Zongmu Anchi Intelligent Science & Technology. Focuses on the development of SAE standard Level 4 automated driving systems. Has a capital of 5 million Chinese yuan.
February 2017: Went public on National Equities Exchange And Quotations (NEEQ, informally called “New Third Board”), a market for small and medium-sized venture companies (code: 870816).
February 2017: Established a wholly-owned subsidiary Xiamen Zongmu Industry. Engages in the production an development of sensors for ADAS. Has a capital of 200 million Chinese yuan. Renamed to Zongmu Technology (Xiamen) in April 2018.
November 2017: Announced the first automatic valet parking system for low-speed autonomous driving. Mainly intended for underground parking lots.
December 2017: Delisted from NEEQ as part of its business strategy.

Top management

Name Position Notes
Tang Rue Founder and CEO Engineering director in the Automotive Division of SiRF in the US and CSR in the UK.
Chen Chaozhuo Vice President Strategy & Marketing Director, China-Sweden Transportation Safety Center. Vice President, R&D, Chery Jaguar Land Rover. Chief Engineer, Chery Autonomous-mobile Research Institute.
Wang Fan Vice President General Manager, Intelligent Transportation Department Senior Software Manager at Zoran in the US and CSR in the UK.
Li Xuyang Vice President General Manager, Intelligent Sensor Department Head of millimeter wave radar project, Central R&D, Bosch Group, Germany. Head of ADAS platform R&D Project, Chassis Division, Bosch Group, Germany
(Created using company PR materials and various media sources)
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