Copyright FOURIN, Inc. 2022
Inceptio Plans to Launch Mass Production of Level 3 Heavy Trucks in 2021
Inceptio Technology, which develops and operates self-driving trucks, was established in Shanghai in April 2018. Since then, it has been expanding its business in China. The company is focusing on highway logistics and is developing of self-driving heavy-duty trucks.
Since its founding, it has successfully raised two rounds of funding, raising 100 million USD in April 2020 and 120 million USD in November of the same year. The lead investor for the second round of financing was BEV battery manufacturer CATL, indicating that Inceptio is attracting attention in the automotive industry. In addition, 20 companies and organizations are participating in the Logistics Union Innovation Center, which was established by Inceptio to promote technology sharing and industrialization of self-driving heavy-duty trucks.
In July 2020, Inceptio unveiled the company’s new long-distance 3D sensor that enables Level 3 autonomous driving and a high-performance autonomous driving computing platform called “Inceptio M51.” It can be equipped with 7 millimeter-wave radars, 5 laser radars and 5 4K high-quality cameras.
Inceptio is also developing Level 3 trucks equipped with Inceptio M51 in partnership with automakers. As of December 2020, it has already produced prototypes of Level 3 heavy-duty trucks in partnership with Dongfeng Commercial Vehicles and Sinotruk, and aims to start mass production by the end of 2021. According to Inceptio’s CEO Julian Ma, the company plans to produce thousands of vehicles in order to reduce the cost of the self-driving function to 25,000 USD per vehicle. In addition to considering the development of Level 4 technology in the future, Inceptio is also considering the electrification of self-driving trucks which are currently powered by diesel fuel.
Inceptio: Company Overview and Timeline (As of December 2020)
|Legal name:||Jiluo Technology (Shangai) Co., Ltd. (Conducts business under the name: Inceptio Technology)|
|Headquarters:||Yangpu district, Shanghai|
|Capital:||60 million USD|
|Shareholders:||G7 (Chinese fleet management service provider), GLP (real estate logistics provider and investment manager based in Singapore), NIO Capital (investment firm of China’s NIO)|
|Business scope:||Technology development and operation of self-driving trucks|
|Subsidiaries:||Three companies in China and one in the US (see table below for details)|
|Business expansion:||Inceptio has forged partnerships with more than 100 logistics companies. The company also has an R&D center in Silicon Valley which has set up the Logistics Joint Innovation Center. The center has 20 companies and organizations as participants.|