iMotion reports 17.11% YoY rise in H1 2024 revenue

Beijing (Gasgoo)- On August 16, autonomous driving technology company iMotion released its semi-annual financial report for 2024, showing that the company recorded a revenue of 636 million yuan in the first half of 2024, marking a year-on-year increase of 17.11%.

Photo credit: iMotion

For the first six months of this year, iMotion’s gross profit reached 44.85 million yuan, up 9.29% from the previous year, while its net losses attributable to shareholders narrowed by 1.15% year on year to 98.61 million yuan.

During the reporting period, multiple vehicle models equipped with iMotion’s autonomous driving solutions and products entered mass production and delivery stages. According to the report, the company delivered over 96,000 sets of autonomous driving solutions and products to its customers, reflecting a 92.9% year-on-year spike.

iMotion currently offers commercialized L2 to L2+ autonomous driving solutions and is developing L2 to L4 solutions for automakers. As the company's core business, the sales of autonomous driving solutions and products showed steady growth in the first half of the year. According to the financial report, these solutions and products contributed 613 million yuan in revenue, which jumped 17.74% year over year, and accounted for 96.4% of the company's total revenue for the period.

During the first half of this year, iMotion secured 18 designated orders from such automakers as Chery Auto, Geely, Dongfeng Motor, Leapmotor, and Polestar. Most of these vehicle models are expected to begin mass production in 2024 and 2025, further strengthening the iMotion’s commercial advantage and expanding its market share.