Tencent joins AI alliance for autonomous vehicles

Tencent Holdings Limited joins the alliance to build artificial intelligence (AI) applications for autonomous cars. Alliance members include Sebastian Thrun, who spearheaded autonomous car projects at Google and Beijing Automotive Group (BAIC) to enhance the development and technology used in autonomous driving including the creation of future related products.

Tinuku Tencent joins AI alliance for autonomous vehicles

"Tencent hopes to make an all-out effort to strengthen the development of AI technology used in autonomous driving. We want to be a connector to accelerate cooperation, innovation and industry convergence, contribute to overall industry growth efforts," said Tencent vice president Chen Juhong.

Juhong said the advanced driver assistant system (ADAS) has a market size of about 100 billion yuan (US$15 billion) by 2020 based on an annual compound growth rate of 35 percent. Tencent intensively explores the potential of autonomous movers, in addition to Baidu and Alibaba.

"In this new era, only those who connect with other companies to build the next generation of cars that will survive, while those who shut themselves in the room will die," said Chairman of BAIC, Xu Heyi.

In July Baidu launched the Project Apollo platform as one of the world's largest and diversified autonomous vehicle alliances involving more than 50 partners including Ford and Daimler. While Alibaba has been working with SAIC Motor to develop cars connected to the internet.

Tencent is also an investor in Future Mobility Corp (FMC) and Nio as two start-up electric car companies that are seen as Tesla's strongest competitor. Tencent had a net profit in the second quarter ended June 30 up 70 percent to 18.2 billion yuan.