iFLYTEK to set up intelligent driving headquarters in Wuxi city

Beijing (Gasgoo)- China’s intelligent speech player iFLYTEK has inked a contract to build its headquarters of intelligent driving technologies in the Economic Development District of Wuxi city.

Signing ceremony; photo credit: iFLYTEK

iFLYTEK will set up a subsidiary as well as the intelligent driving headquarters in the city. 

Wuxi is one of the first cities permitted to conduct pilot operation of V2X, smart city, and C-V2X technologies in China. iFLYTEK has established cooperative projects with Wuxi in many other expert fields, including medicine and education. Adding the intelligent driving unit, iFLYTEK aims to build a comprehensive AI industrial ecosystem in the city.

According to its financial report, iFLYTEK brought in RMB18.31 billion ($2.82 billion) in revenue in 2021, surging 40.6% year over year. Its net profit amounted to RMB1.56 billion ($239.96 million), representing a 14.1% increase from the year-ago period. After non-recurring deductions, its net profit equaled RMB980 million ($150.74 million), jumping 27.5% compared to 2020. 

Notably, iFLYTEK’s intelligent auto business sector scored RMB449 million ($69.06 million) in revenue, surging 38.92% year on year.

In the past year, iFLYTEK has deployed 7 million sets of its smart auto products, formed partnerships with over 40 automakers over more than 200 new vehicle models. The company projected to install its products to roughly 9 million vehicles in 2022, with 260 new models, bringing in a 70% rise in income.