2 1 Shi Ji Jing Ji Bao Dao·2025-11-29 13:47Core Viewpoint - The recent announcement by Haomo Technology regarding a complete shutdown and holiday for all employees starting November 24, 2025, marks a significant downturn for the company, which has seen a drastic reduction in workforce and challenges in maintaining its position in the intelligent driving sector [2][3][22]. Company Overview - Haomo Technology, incubated by Great Wall Motors in 2019, was once a leading player in the intelligent driving industry, primarily supplying Great Wall's brands with its driving systems [2][3]. - The company had a peak workforce of nearly 800 employees, focusing on the development of intelligent driving technologies for passenger vehicles [2][3]. Recent Developments - In late 2023, Haomo lost a key contract with Great Wall's Weipai brand, which shifted to a competitor, Yuanrong Qixing, for its intelligent driving solutions due to delays in Haomo's product development [3][9]. - Despite retaining contracts with Great Wall for mid- and low-tier models in 2024, Haomo is not the sole supplier for other major automakers like Beijing Hyundai, Toyota, and BMW [8][9]. Strategic Challenges - Haomo's initial strategy involved a heavy investment in high-level talent and technology, but the company struggled to keep pace with competitors who adopted more advanced technological approaches [5][12]. - The company's reliance on Qualcomm chips limited its ability to compete effectively in the high-performance segment of the intelligent driving market, as its AI computing power was insufficient for urban driving applications [11][12]. Financial and Operational Issues - Haomo's financial health has deteriorated, with a significant drop in valuation from $1 billion in 2021 to approximately 900 million yuan in 2024, reflecting limited growth and investor confidence [20][22]. - The company has faced challenges in converting its technological advancements into cash flow, leading to a reliance on external financing to sustain operations [18][20]. Conclusion - The trajectory of Haomo Technology illustrates the complexities of navigating the intelligent driving landscape, where strong initial backing from Great Wall Motors ultimately constrained its ability to diversify partnerships and adapt to rapid technological changes [22][23].