SenseTime's automotive business revenue doubled, up more than 100% in the first half of the year

According to SenseTime’s latest financial report, its automotive business achieved significant growth in the first half of 2024, with revenue doubling compared to the same period last year. This growth is mainly due to the increase in solution deliveries and the number of newly added fixed-points, including the internet-famous car Xiaomi SU7, whose Xiao Ai function is supported by SenseTime's large model. In addition, SenseTime has many well-known automotive customers such as Audi and BMW. SenseTime stated at the performance meeting after the financial report that they will firmly follow the pure visual route. In the first half of the year, SenseTime's revenue was 168 million yuan, a year-on-year increase of 100.4%, mainly due to the growth in revenue from product mass production and V2X-related services, which accounted for 9.7% of the group's total revenue. SenseTime’s current automotive business mainly consists of three sectors: cockpit, intelligent driving and V2X vehicle-road collaboration. In the first half of the year, SenseTime Jueying delivered 705,000 vehicles, bringing the cumulative delivery to 2.6 million vehicles, covering 104 models. At the same time, 15 new models and 6 million vehicles were added in the first half of the year, including overseas brands such as Lexus.