Xinhua Investment Holdings Makes First Direct Industrial Bet in Smart Driving With Jiushi
Jiushi and Xinhua Investment Holdings signed a strategic investment agreement on Oct. 23, marking Xinhua Investment Holdings' first direct industrial investment in intelligent driving and physical AI and covering branding, smart logistics and overseas expansion.
According to Leiphone, the agreement establishes a deep strategic partnership. Xinhua Investment Holdings said its investment is "not in a car, but in a road—a Chinese road for smart logistics."
Jiushi was described as achieving rapid growth this year. It became the industry's first 10-billion-yuan unicorn and carried out what the report called the world's first large-scale mass production of an L4 map-free solution. In addition to vehicle sales revenue, its AI Driver service is expected to generate annualized revenue of more than $100 million by the end of the year.
The company's business has reached more than 300 cities in over 20 countries, and it has been recognized as a national-level specialized and new "little giant" enterprise, according to the report.
The cooperation will combine the two sides' strengths in brand building, smart-logistics ecosystem development and overseas expansion, Leiphone reported.