Core Insights - The company, Haomo Zhixing, has announced a suspension of work for all employees starting from November 24, 2023 [1] - Haomo Zhixing was established in November 2019 and is a spinoff from Great Wall Motor's intelligent driving division [1] - The core team includes members with backgrounds from Great Wall Motor, Baidu, and Huawei [1] Funding and Valuation - In February 2021, Haomo Zhixing completed a Pre-A round financing of 300 million yuan, led by Meituan's strategic investment department [1] - By December 2021, the company secured nearly 1 billion yuan in A round financing, achieving a post-investment valuation exceeding 1 billion USD (approximately 7.1 billion yuan) [1] - In February 2024, Haomo Zhixing announced over 100 million yuan in B1 round financing, primarily for the development of AI autonomous driving technologies [1] - Two months later, the company raised an additional 300 million yuan in B2 round financing from existing investors [1]

Group 1 - Major Japanese manufacturers, including Toyota and Honda, are collaborating on AI-based autonomous driving technology to ensure safety and build AI infrastructure while nurturing talent [1][2] - The Japanese government is supporting the establishment of a collaborative system among large enterprises in the AI autonomous driving sector and is providing assistance to small and medium-sized enterprises to promote domestic production of components [1][2][3] - The development of Software Defined Vehicles (SDV), which rely on software updates via the internet to enhance performance, is a key focus for the Japanese government [2][3] Group 2 - The revised "Digital Transformation Strategy for Vehicles" aims to accelerate the development of AI autonomous driving and includes collaboration in seven areas, such as utilizing generative AI in semiconductor and manufacturing processes [2][3] - Japan's goal is to achieve a domestic and international sales target of 12 million vehicles and a global market share of 30% by 2030 [3] - AI-based autonomous driving is expected to provide smoother driving experiences and reduce the number of cameras and sensors needed, thereby lowering average costs per vehicle [3]