Foxconn partners with GL Ventures to invest in AutoCore.ai

Foxconn announced that it has combined with GL Ventures to complete its investment in AutoCore.ai.

This Pre-A round of financing was led by Foxconn and GL Ventures, with participation from a Nanjing company, with nearly 100 million yuan.

The company will use the money to accelerate the realization of the safety middleware system platform of AutoCore.OS’ intelligent mobile computing under a variety of chips and EEA architectures, and lead in open source autonomous driving projects on a global scale.

AutoCore.ai, as a founding top member of the Autoware Foundation, is also one of the main contributors to many projects of the Foundation.

It has built the first-generation open source development platform for autonomous driving with its strategic partner TierIV of Japan.

This investment is another move for its strategic alliance following the joint investment by TierIV and ADLINK in June 2020.

AutoCore.ai has become one of the first members to join Foxconn’s MIH open platform in October 2020.

Since April 2018, AutoCore.ai has established in-depth cooperation with leading manufacturers in various fields in North America, Europe, Japan, Mainland China and Taiwan, covering chips, Tier1, and OEM. It has delivered multiple projects around its core products.

As a middleware platform provider, AutoCore.ai has led and participated in the formulation and development of a number of international standards and a number of open source projects led by it have been widely used.

From Byton to Geely, and then from Fisker to AutoCore.ai, Foxconn has participated in four investment and cooperation transactions in the automotive field in 30 days.

From the complete vehicle, the architecture platform, to the autonomous driving technology, Foxconn’s ambition to build cars is evident.

On February 20th, Liu Yangwei, chairman of Foxconn’s parent company Hon Hai Group, said in an interview at the Taipei headquarters that three car models will be launched in the fourth quarter of this year.

He said that these three models are based on the MIH electric vehicle open platform launched by the company, including one electric bus and two passenger car models.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2021/03/03/foxconn-partners-with-gl-ventures-to-invest-in-autocore-ai/.

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