China's navigation firm NavInfo partners with Honeywell

Beijing (Gasgoo)- On April 5th, China’s navigation giant NavInfo announced a strategic cooperation with Honeywell Sensing & Control China Co., Ltd. (Honeywell) for automotive chip, autonomous driving and intelligent V2X development.

Photo credit: NavInfo

The agreement specifies that the partners will deepen their current cooperation in the auto-grade chip aspect. NavInfo will continue supplying various professional automotive chips for Honeywell. Honeywell is obligated to prioritize NavInfo’s chips when selecting suppliers for its onboard hardware and equipment. 

The two companies also have plans in intelligent driving and new energy fields. Specifically, the partners aim to provide production-ready autonomous driving solutions by combining NavInfo’s L2 to L4 autonomous driving solutions with Honeywell’s IMU sensors. 

With each company’s resources and capabilities, NavInfo and Honeywell will co-develop new energy solutions, and explore the possibilities of international business. 

Through the cooperation, NavInfo and Honeywell aim to reinforce their market share and competitiveness in the auto-grade chip and autonomous driving fields, furthering their product industrialization.

Notably, NavInfo’s efforts in enhancing its performance are fruitful. In 2021, the company celebrated a turnaround from loss to profit, with annual revenue of RMB3.06 billion ($482.4 million), surging 42.48% from a year ago, resulting in a net profit of RMB122 million ($19.22 million).