NavInfo’s intelligent driving unit boasts 187.28% YoY spike in 2023 revenue

Beijing (Gasgoo)- On April 29, NavInfo unveiled its 2023 annual financial report, revealing a total revenue of 3.122 billion yuan for the year, falling 6.72% from a year ago.

Photo credit: NavInfo

The company’s intelligent driving business sector saw a revenue surge of 187.28% year-on-year to 376 million yuan in 2023. Meanwhile, the smart chip business achieved a yearly revenue of 510 million yuan, up 1.52% from a year ago. However, revenue from the smart cockpit business declined by 25.29% year over year to 462 million yuan, and the smart cloud business experienced a year-on-year decrease of 15.14%, reaching 1.748 billion yuan.

With continuous advancements in intelligent driving technology, NavInfo witnessed a significant increase in the delivery volume of its smart driving software and hardware products compared to the previous year. The development of cost-effective integrated domain controllers for pilot and parking significantly enhanced NavInfo's competitiveness in the intelligent driving algorithm field.

In October 2023, NavInfo launched the lightweight version of its highway navigation assistance system, the NOP Lite, during a user conference. Tailored for vehicles priced between 100,000 yuan to 200,000 yuan, the NOP Lite not only provides comprehensive intelligent assistance for driving and parking but also offers an upgrade option for highway navigation, enabling advanced functions like automatic lane changing and intelligent speed adjustment.

Leveraging a low computing power platform and 5V5R sensor architecture while ingeniously integrating map data, the NOP Lite delivers high-level intelligent driving features at a low cost for mass-market vehicles, offering car manufacturers a cost-effective intelligent driving solution.

At the Auto China 2024, the company introduced the NI in Car integrated intelligent solution. Targeting vehicles priced between 100,000 yuan to 200,000 yuan, this solution emphasizes exceptional value and combines intelligent driving with a smart cockpit seamlessly. By breaking down barriers between smart driving and smart cockpit, revitalizing in-car navigation, and facilitating data flow, NavInfo aims to empower automakers to create a self-iterative data closed-loop system for intelligent driving.