NavInfo sees 9.71% YoY rise in H1 2023 revenue

Beijing (Gasgoo)- On August 21, Chinese automotive intelligence product supplier NavInfo unveiled its 2023 semi-annual financial report with total revenue reaching 1.5 billion yuan, which marked a year-on-year growth of 9.71%.

Photo credit: NavInfo

A standout achievement for NavInfo was the swift ascent of its intelligent driving division, which achieved a staggering revenue of 144 million yuan in the first half of the year. This rapid growth can be attributed to the successful launch of intelligent driving products featuring advanced scenario function-enabled mapping capabilities, addressing critical pain points in perception capabilities often associated with L2 intelligent driving products.

Embracing its role as a new Tier 1 player, NavInfo is unwavering in its commitment to automotive intelligence. The company's strategic direction has been crystallized, with intelligent driving solutions leading the way. The four major business segments—smart cloud, intelligent driving, smart cabin, and smart chips—are poised to further expand this trajectory.

A pivotal statistic from NavInfo’s financial report highlights the remarkable year-on-year soar of 41,999.87% in the intelligent driving division for the first half of the year. This extraordinary surge is largely fueled by consistent production orders and deliveries of comprehensive autonomous driving assistance solutions. Looking ahead, NavInfo has exciting plans for the latter half of the year, introducing upgraded solutions that leverage lightweight maps, low-power sensor configurations, and high reliability performance.

The report also sheds light on the progress made in the smart chips division. The next-generation intelligent cabin chip, the AC8025, is slated for mass production by year's end. With its remarkable integration capabilities, the AC8025 has garnered significant attention from international automakers. Notably, SoC chip shipments of NavInfo’s chip arm, AutoChips, have exceeded 75 million units as of mid-2023.