Neta Automobile, backed by Qihoo 360, China's largest cybersecurity company, is currently targeting the affordable market, though a series of recent moves suggest it could launch more competitive models next year.

Chinese AI chipmaker Horizon Robotics, a Li Auto supplier, announced Friday that it has entered into a full strategic partnership with Neta, and the first model the two will build together will be mass-produced and available next year.

Horizon will provide chip products with high computing power and technical support to help Neta build intelligent products for the mass market, according to a statement.

Neta's products with the Horizon Journey family of chips will be in mass production and available next year, the statement said.

(Photo source: Horizon Robotics)

Horizon was founded in 2015 with investors including Intel Capital, Hillhouse Capital and Jack Ma's Yunfeng Capital, and partners including Li Auto, BYD, SAIC Motor and Audi.

Horizon released its Journey 2 chip in 2019, which is the first automotive-grade AI chip indigenous to China. Its Journey 3 chip is already being used in the 2021 Li ONE model.

On July 29, 2021, Horizon Robotics launched the Journey 5 chip and plans to launch the Journey 5P in 2022 and the Journey 6 chip in 2023.

Neta is the electric vehicle brand of Hozon Auto, which was founded in October 2014. the first Neta model was launched in November 2018, and as of today, Neta has 2 models for sale - Neta V and Neta U.

The Neta V is priced between RMB 59,900 ($9,300) and RMB 75,900, and the Neta U Pro has an official guide price between RMB 99,800 and RMB 159,800 after subsidies.

On April 26, Neta announced the launch of Series D funding of approximately RMB 3 billion, with Qihoo 360 strategically leading the investment, but the exact amount was not disclosed.

Last Wednesday, Neta signed a comprehensive cooperation agreement with Huawei to use the latter's technology in future models.

According to the agreement, Neta and Huawei will start comprehensive cooperation in the fields of intelligent network connectivity, in-vehicle computing, smart driving, digital energy, and cloud services.

The Neta S, which will go on sale next year, is the first model to be created by the two companies, and it will use Huawei's MDC smart driving computing platform and LiDAR technology, according to an announcement made by Neta.

According to the company's previous statement, the Neta S will go on sale at the end of next year and is a B-class electric coupe based on a new platform.

Neta said Wednesday it delivered 6,613 vehicles in August, up 449 percent from a year earlier and up 10 percent from July.

Neta partners with Huawei to use its computing platform and LiDAR technology for next year's model

(Photo source: Horizon Robotics)