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AI Eye Podcast 507: NVIDIA (NasdaqGS: $NVDA) DRIVE Orin SoC Selected by NIO (NYSE: $NIO) for Automated Driving Capabilities

Baidu (NasdaqGS: $BIDU) Plans Intelligent Electric Vehicle Production and Partners with Automaker Geely

 

Point Roberts, WA and Vancouver, BC - January 12, 2021 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.

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AI Eye Podcast 507: NVIDIA (NasdaqGS: $NVDA) DRIVE Orin SoC Selected by NIO (NYSE: $NIO) for Automated Driving Capabilities

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Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence

Stocks discussed: (NasdaqGS:NVDA) (NYSE:NIO) (NasdaqGS:BIDU)

NVIDIA Corporation (NasdaqGS:NVDA) has announced that Chinese automaker NIO Limited (NYSE:NIO) has "selected the NVIDIA DRIVE Orin system-on-a-chip (SoC) for its new generation of electric vehicles, which will offer advanced automated driving capabilities." Specifically, NVIDIA DRIVE Orin will be employed in Adam, NIO's supercomputer that will "first appear in the ET7 sedan that will ship in China starting in 2022." NVIDIA founder and CEO, Jensen Huang, said:

"Autonomy and electrification are the key forces transforming the automotive industry. We are delighted to partner with NIO, a leader in the new energy vehicle revolution- leveraging the power of AI to create the software-defined EV fleets of the future."

Baidu, Inc. (NasdaqGS:BIDU) plans to establish a company to produce intelligent electric vehicles (EV), and that it has entered into a strategic partnership with multinational auto manufacturer Zhejiang Geely Holding Group. Robin Li, Co-founder and CEO of Baidu, said:

"At Baidu, we have long believed in the future of intelligent driving and have over the past decade invested heavily in AI to build a portfolio of world-class self-driving services. China has become the world's largest market for EVs, and we are seeing EV consumers demanding next generation vehicles to be more intelligent. As a top Chinese automaker with global reach, Geely has the unique experience and resources to design, produce and market energy-efficient, reliable and safe automobiles in large scale. We believe that by combining Baidu's expertise in smart transportation, connected vehicles and autonomous driving with Geely's expertise as a leading automobile and EV manufacturer, the new partnership will pave the way for future passenger vehicles."

Global Autonomous Vehicles Market to Reach $2.04 Trillion by 2030

A report published by Research and Markets finds that the global Autonomous Vehicle market will grow from $54.21 billion in 2019 to $2.04 trillion by 2030 with a compound annual growth rate (CAGR) of 39.1 percent in the forecast period 2020-2030. An excerpt from the report description outlines some key factors influencing the market's growth:

The growth of the automotive vehicles market is attributed to the rising number of benefits offered by unmanned vehicle as compared to traditional vehicles such as reduced road-crash risk, enhanced safety & security, elimination in driver wages, secured mobility for disabled individuals and non-drivers, and increased comfort and flexibility offered by seamless operative systems.

However, high component costs, high software and hardware maintenance updates, increasing incidences of cyber-attacks hacking the operating systems are likely to hamper the market. On the other hand, increasing investments by regulatory bodies in digitization, adoption of advanced infrastructures in smart cities, high usage of smart gadgets and smart automotive, technological evolution, high standard of living, and increasing per capita income are creating growth opportunities for the autonomous vehicle market.

Sam Mowers, Investorideas.com

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