Core Viewpoint - The sudden announcement of a work stoppage at Haomo Zhixing has led to a complete halt in operations, raising concerns among employees about compensation and future arrangements [1][2]. Company Background - Founded in 2019, Haomo Zhixing emerged as a latecomer in the autonomous driving sector, entering a market that was transitioning from hype to rational pursuit [3]. - The company was established as a spin-off from Great Wall Motors, aiming to focus on autonomous driving technology amid industry transformation [4]. - Haomo Zhixing's leadership includes experienced executives from Great Wall Motors, reflecting the company's ambitious goals in the autonomous driving space [4][5]. Growth and Achievements - Haomo Zhixing quickly gained attention in the industry, developing a data intelligence system and launching its HPilot system across over 20 vehicle models, achieving over 1 billion yuan in revenue by the end of 2021 [7]. - The company reported a total driving distance of over 250 million kilometers by 2024, showcasing its rapid growth in user engagement [7]. Challenges and Decline - Despite initial success, Haomo Zhixing faced significant challenges, including delays in product delivery and the inability to launch its urban NOH feature, which contributed to its decline [8][9]. - The company began to lose favor with Great Wall Motors, which started exploring partnerships with other firms for smart driving solutions, further marginalizing Haomo Zhixing [9]. Financial Backing and IPO Plans - Haomo Zhixing has attracted substantial investment, raising approximately 2 billion yuan across seven funding rounds, with notable investors including Meituan and Hillhouse Capital [10][12]. - The company had plans for an IPO, initially targeting the Sci-Tech Innovation Board in 2023, but faced delays and is now considering a potential listing in Hong Kong in 2024 [13]. Internal Turmoil - Internal issues have been evident, with reports of layoffs and high-level executive departures, indicating a deteriorating organizational structure [14]. - Financial difficulties have emerged, with cash flow issues leading to delayed salary payments and challenges in meeting business targets [14]. Industry Context - The autonomous driving sector is experiencing a competitive landscape, with significant investment activity and a trend towards consolidation among major players [15]. - Haomo Zhixing's situation serves as a cautionary tale for companies reliant on single corporate partners, highlighting the risks of dependency in a rapidly evolving industry [15].

Core Viewpoint - The sudden halt of the autonomous driving company, Haomo Technology, reflects underlying internal turmoil and challenges in the industry, highlighting the risks associated with reliance on a single major partner, Great Wall Motors [4][19][21]. Company Overview - Founded in 2019, Haomo Technology emerged as a latecomer in the autonomous driving sector, entering during a critical transition from hype to rational investment [6]. - The company was initially seen as a promising player, leveraging its connection to Great Wall Motors, which aimed to develop a fully self-researched autonomous driving system [7][8]. Business Development - Haomo Technology achieved significant milestones, including the launch of its HPilot system across over 20 vehicle models and generating over 1 billion yuan in revenue by the end of 2021 [10]. - By 2024, the total mileage of its autonomous driving users surpassed 250 million kilometers, indicating strong initial growth [10]. Challenges and Setbacks - Despite early success, Haomo Technology faced delays in product delivery, particularly with its urban NOH feature, which was expected to launch in late 2022 but did not materialize as planned [10][11]. - The company began to experience internal issues, including layoffs and executive departures, which raised concerns about its operational stability [20]. Financial Backing and IPO Plans - Haomo Technology has raised approximately 2 billion yuan across seven funding rounds, with significant investments from major players like Meituan and Hillhouse Capital [13][16]. - The company had aspirations for an IPO, initially targeting the Science and Technology Innovation Board in 2023, but faced delays and ultimately aimed for a 2025 listing [17]. Current Status and Future Outlook - As of late 2024, Haomo Technology has entered a state of suspension, with employees placed on leave and financial difficulties becoming apparent [4][19]. - The company's future remains uncertain, with the potential for further marginalization by Great Wall Motors and the risk of being absorbed by larger automotive manufacturers, similar to the fate of Cruise [21].

Core Viewpoint - The article discusses the sudden operational halt of the autonomous driving startup, Haomo Zhixing Technology Co., Ltd., highlighting employee concerns and the company's precarious situation amid industry challenges [1][3][11]. Company Situation - On November 22, Haomo Zhixing announced a "work stoppage" starting November 24, leaving employees anxious and without clear communication from management regarding future operations [3][4]. - Employees reported that the company had not addressed critical issues such as salary payments and social security contributions, leading to uncertainty about their employment status [4][6]. - There are rumors that the company's accounts have been frozen, further exacerbating employee anxiety about their financial security and social security payments [6]. Employee Concerns - Employees expressed a desire for either a clear plan for the company's revival or a formal announcement of dissolution with compensation details, including back pay and social security contributions [6]. - Many employees planned to wait until November 25, the scheduled payday for October salaries, to decide on their next steps based on the company's response [6]. Company Background - Haomo Zhixing was established in November 2019 as a spinoff from Great Wall Motors, having undergone seven rounds of financing with a valuation exceeding $1 billion [8]. - The company has developed several products, including the "Little Magic Camel" autonomous delivery vehicle and the MANA intelligent driving data system, but has faced operational challenges and dependency on Great Wall Motors for orders [8][9]. Industry Context - The autonomous driving sector is experiencing increased competition and a shift towards rationality after a period of capital frenzy, with many companies facing funding difficulties and operational stagnation [11]. - Great Wall Motors has begun to pivot resources towards external suppliers for high-level intelligent driving solutions, indicating a strategic shift that may impact Haomo Zhixing's future [11].