SAIC, Haier will unite, as they seek to push smart cars

Haier will be investing in a SAIC unit, that will develop autonomous driving technology.

SAIC Motor Corp. and Haier Group Corp. have signed a preliminary agreement that will jointly work towards developing intelligent transportation systems and smart homes, it is gathered from informed sources.

The two companies will co-operate in areas of autonomous driving and lightweight-material development. They will also establish a fund to invest in areas of intelligent manufacturing, the sources informed o condition of anonymity. The combined facility is likely to come up from Yangshan port to the South of Shanghai. While a SAIC representative confirmed the news, no comment was available from HAIER.

The Chinese automakers and the technology giants have been making a serious effort to make inroads into electric vehicles and autonomous driving platforms.

They want to get the first-mover advantage, as this technology is perceived to be the future of transportation.

SAIC and Alibaba Group Holding Ltd, the e-commerce giant, have already unveiled their IM brand EV Sedan in January. The company will start taking orders for the same, from April 2021.

And carmaker Zhejiang Geely Holding Group Co. and Baidu Inc, the search engine Giant, too are in collaboration to manufacture EVs soon,

Xiaomi Corp is watching the developments in the industry very closely; and it too could take the plunge soon.

Apple Inc too is watching the space closely; and could venture into this space independently or with a collaboration.