Chinese startup Horizon Robotics is growing fast to take on global giants in the autonomous driving market, said CEO Yu Kai at the China EV100 Forum.

Yu said Horizon seized a 35.5 percent share in the navigation-on-autopilot segment in 2023, second only to Nvidia, which had a 48.9 percent share.

In the segment of advanced driving-assist systems, or ADAS, it was third in the first half of 2023 but finished the year with the second position. Other giants were Mobileye and Renesas.

"So far there are over 110 models that sport our chips and the number is growing," said Yu, adding that the company’s clients include well-known carmakers including BYD and Li Auto.

Horizon has also partnered with Volkswagen, the second-largest vehicle maker in the world, which marked a milestone for the startup's development.

Yu said 2024 will be a "big year" for Horizon to launch products, including its Journey 6 chip family.

Statistics show that over 54 percent of new passenger vehicles sold in 2023 had ADAS features in China last year, and the figure is expected to exceed 65 percent this year.