Haomo.AI unveils affordable smart driving systems

Haomo.Ai, an autonomous driving company backed by China's Great Wall Motor, unveiled on Wednesday three low-cost smart driving systems capable of Level 2 features.

The three systems, priced from around 3,000 yuan ($411) to 8,000 yuan, are scheduled to be available in vehicle models from late 2023 and early 2024, said the company.

These systems are priced significantly lower than many of their rivals in the market, which cost usually $1,500 to $2,000, according to consulting firm McKinsey.

Zhang Kai, chairman of Haomo.AI, expects high-level driving-assist features to be easily found in new vehicles.

He said currently such features are found in around 42.4 percent of models in the passenger vehicle market, and he expects the figure to reach 70 percent by 2025.

Haomo.Ai is one of the most popular autonomous driving companies that offer driving-assist solutions for carmakers and also fully autonomous products.

Its solutions have been featured in over 20 models in the Chinese market including those from Great Wall Motor.

The company expects its latest products to further sharpen its competitive edge in the segment.

"These three newly released second-generation products of us are lower in price but higher in performance compared with previous ones," said Zhang.