LiDAR manufacturer Seyond Holdings Ltd. (2665.HK) said on Tuesday that it has signed a three-year memorandum of understanding with Giga.AI Technology. The partnership will jointly promote the intelligent upgrade of line-haul logistics, robovans and smart logistics infrastructure, while accelerating the large-scale commercialization of physical AI technology across the freight logistics sector.
Giga.AI develops autonomous driving systems for commercial vehicles. The company leverages its Level 2+ products to accumulate data during real-world operations, which drives the iterative advancement of its Level 4 technology.
Seyond noted that the partnership will help expand the application of its products across scenarios such as Level 4 robovans and autonomous freight transport. In addition, the collaboration aims to develop large AI models and solutions, and expedite product testing and validation, unlocking potential business growth opportunities.
Shares of Seyond opened up 9% at HK$2.89 on Wednesday. The stock is down over 80% from its 52-week high.
By Lau Chi Hang
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