Chinese Tesla Rival Nio and Giant Tencent to Collaborate on Autonomous Driving Technology

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Last Updated on November 29, 2022 by Bitfinsider

The Chinese electric car manufacturer Nio and the Tencent have agreed to collaborate on autonomous driving and high-definition mapping.

Tencent, a gaming, social media, and cloud computing giant, has struck a collaboration deal with Nio, one of Tesla’s competitors in China, to capitalize on Beijing’s emphasis on so-called new energy vehicles.

The alliance might enable Tencent to do so, while providing Nio with the technological support of one of China’s largest companies. Tencent is already a significant investment in Nio, which is attempting to distinguish itself from a sea of electric car startups.

In August, e-commerce company Alibaba and Nio competitor Xpeng created a processing facility to train software for autonomous vehicles.

Nio and Tencent announced on Monday that they will collaborate on developing high-precision mapping systems for motorists. Nio will also utilize Tencent’s cloud computing infrastructure for autonomous driving data storage and training. Large volumes of real-time data must be analyzed in order to train algorithms for driverless automobiles.

The cooperation between Tencent and Nio provides the corporation with an additional option to expand into other business sectors while its main video game industry, which has been hampered by stringent local regulation, continues to encounter headwinds.

Nio, however, faces its own difficulties, including growing losses and margin pressure due to rising material costs and supply chain constraints.

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