Chinese electric vehicle company Nio has teamed up with Nvidia to develop a new generation of automated driving electric vehicles.
Under the terms of the partnership, Nio (NIO) will deploy Nvidia’s Drive Orin system-on-a-chip (SoC) for its new generation of electric vehicles, to offer advanced automated driving tools.
At its annual event on Jan. 9, Nio unveiled the Nvidia (NVDA) Drive Orin-powered supercomputer, dubbed Adam, which is scheduled to first appear in the ET7 sedan that will be introduced in China starting in 2022. According to Nvidia, Orin is the world’s highest-performance AV and robotics processor. The supercomputer-on-a-chip family can process 254 trillions of operations per second (TOPS).
As the first of Nio’s EVs to feature Orin, the flagship ET7 is a high-performance vehicle that accelerates from zero to 100km in only 3.9 seconds. It also features a new 150 kilowatt battery for extended mileage range.
“The cooperation of Nio and Nvidia will accelerate the development of autonomous driving on smart vehicles,” said Nio CEO William Li. “Nio’s in-house developed autonomous driving algorithms will be running on four industry-leading Nvidia Orin processors, delivering an unprecedented 1000+ TOPS in production cars.”
Nio added that Adam signals a major milestone in bringing automotive intelligence and autonomous driving to market, safely and reliably. “With a centralized, software-defined computing architecture, Nio’s next-generation EVs, like the ET7 sedan, will feature the latest AI-enabled capabilities, which are perpetually upgradable after the point of sale,” the EV maker said.
Shares in Nio have exploded 1,607% over the past year, while the stock still scores a Moderate Buy analyst consensus. That’s with an average analyst price target of $50.20, which implies 15% downside potential over the coming 12 months.
Ahead of Nio’s annual day, Deutsche Bank analyst Edison Yu said that the new sedan will likely be aimed at “the mid-size premium segment” and will be the first Nio vehicle to be built on the EV maker’s next generation NP2 platform.
Yu, who reiterated a Buy rating on the stock with a $50 price target, said that he expected the new battery swapping tech to be “faster and cheaper than current stations.” (See Nio stock analysis on TipRanks)
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