毫末猝死，死于谁手？

Core Viewpoint - The downfall of Haomo Zhixing, a smart driving supplier, is attributed to its inability to scale production and adapt to technological changes, leading to a significant reduction in workforce and halted operations [1][2][15]. Group 1: Company Background and Initial Success - Haomo Zhixing was incubated by Great Wall Motors in 2019 and initially thrived as a smart driving technology provider, securing production orders primarily from Great Wall [1][16]. - The company expanded rapidly, with its workforce growing from around 300 employees to nearly 800 at its peak, focusing on smart driving technology for various vehicle models [1][3]. Group 2: Challenges and Decline - By the end of 2023, Haomo faced a critical turning point when Great Wall Motors shifted to another supplier, Yuanrong Qixing, for its new model, the Wei brand Blue Mountain, due to delays in Haomo's technology [2][6]. - Despite having contracts with several automakers, including Hyundai, Toyota, and BMW, Haomo was not the sole supplier for these companies, limiting its market position [5][14]. Group 3: Technological and Strategic Missteps - Haomo's reliance on Qualcomm chips limited its competitiveness in the high-performance smart driving market, as its AI computing power was insufficient compared to competitors using NVIDIA platforms [7][8]. - The company's focus on a "no-map" driving solution failed to address critical edge cases, leading to production challenges and a lack of effective deployment in urban environments [9][10]. Group 4: Financial Struggles and Future Prospects - Haomo's financial health deteriorated as it struggled to convert its technology into cash flow, leading to a halt in its planned IPO and a significant drop in valuation from $1 billion to approximately $90 million [14][15]. - The company faced a critical need for external funding to survive, but its strong ties to Great Wall Motors limited its ability to attract new strategic partnerships [12][16].