Shanghai (Gasgoo)- On July 7, NavInfo announced it had signed a component development contract with BAIC BJEV, under which it will develop parking software solutions for two of the automaker's vehicle models.
According to the announcement, NavInfo will leverage its advanced R&D capabilities and extensive experience in component development and manufacturing to provide tailored parking software for one of BAIC BJEV's vehicle platforms. The resulting software will be used in production parts designed to ensure BAIC BJEV's customers benefit from safe, stable, convenient, and comfortable parking experiences.
The two companies also plan to collaborate on iterative improvements to the software and related component technologies based on existing technical achievements. Once NavInfo completes the development phase and receives formal approval from BAIC BJEV, the two parties will negotiate terms for mass production and supply of the software-equipped components.
NavInfo noted that the signing of the contract reflects strong recognition from its client regarding the company's technical expertise and product quality. The project is expected to help NavInfo unlock further potential in parking technologies while broadening its footprint across advanced driver assistance and related fields, ultimately enhancing profitability.
In 2024, NavInfo reported total revenue of 3.52 billion yuan, a year-on-year increase of 12.68%. Its Smart Cloud business brought in 2.25 billion yuan, up 28.96% year-on-year; the Smart Chip segment posted 566 million yuan, a 10.92% rise over a year earlier; while the Smart Cockpit segment declined 12.87% from the year-ago period to 403 million yuan. The Smart Driving segment, impacted by changes in product structure and delivery cycles, generated 271 million yuan, down 28.08% from the previous year.
