Xpeng invests in lidar company to bolster self-driving tech · TechNode

Xpeng invests in lidar company to bolster self-driving tech · TechNode

Zvision Technologies, a Chinese startup that makes lidar sensors for self-driving cars, announced a new investment from three Chinese automakers on Monday, including Xpeng Motors. The company becomes the latest startup to tap growing investor interest in the self-driving car space.

Why it matters: The investment is another sign of the increasing interest in lidar sensors, seen as a crucial building block for future vehicles by most auto and tech firms. Lidar is a key component for self-driving cars and uses laser light to sense surroundings. 

Details: Zvision has raised “hundreds of millions of yuan” in a pre-Series C led by Xpeng Motors, according to a Monday announcement (in Chinese). Shang Qi Capital, a private equity firm owned by Chinese automaker SAIC, participated in the round. 

  • State-owned automaker Dongfeng Motor and existing backer Intel Capital also joined the round. A company spokeswoman declined to disclose an exact valuation…

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