eastwest connect

NIO Capital joined hands with Wuxi to build an automotive LiDAR project

It is learned on April 12 from Shanghai Securities News that recently, NIO Capital held a signing ceremony for the “Automotive LiDAR Project” in Wuxi, and the project officially landed in Huishan Economic Development Zone, Wuxi City.

According to reports, the project has a registered capital of 250 million US dollars and is mainly engaged in the production, sales, and research and development of flagship long-range lidar, mass-produced ultra-long-range lidar for vehicles, and integrated ultra-long-range AI lidar products. After the completion of the project, it will accelerate the development and application of LiDAR comprehensive solutions, which will drive more upstream and downstream enterprises to develop in Wuxi, and help Wuxi’s auto industry to deeply integrate into the global industrial chain, supply chain, and value chain.
Du Xiaogang, secretary of the Wuxi Municipal Party Committee, attended and witnessed the signing ceremony.

Zhu Yan, managing partner of NIO Capital, said in his speech that the automotive lidar project is the first cooperation project between NIO Capital and Wuxi. It only took half a year from the start of the project to the completion of the final registration. The “Wuxi Speed” is impressive. NIO Capital will take this as a starting point to better play its role as a bridge, promote more high-quality enterprises and high-quality projects to deploy in Wuxi, and contribute more to Wuxi’s urban construction and industrial development.

In recent years, Huishan District of Wuxi City has anchored the goal of a 100-billion-level industrial cluster, and made every effort to expand its advantageous industries such as new energy vehicles and parts. It has built a whole-system industrial chain from new energy vehicles, to key parts R&D and supporting, to the automotive aftermarket.

The two parties stated that they will use this project cooperation as a starting point to plan and promote more strategic cooperation projects with high added value and strong driving force, and work together to create a benchmark for the new energy vehicle and parts industry in the Yangtze River Delta.