HONG KONG, Aug. 15, 2017 /PRNewswire/ -- Cogobuy Group
("Cogobuy" or the "Company", stock code: 400.HK; with its
subsidiaries (the ''Group'')), the largest e-commerce platform
serving the electronics manufacturing industry in China, is pleased to announce INGDAN.com, the
Company's intelligent hardware innovation platform, had become the
first official partner with Mobileye (NYSE: MBLY), the global
leader in the development of vision technology for Advanced Driver
Assistance Systems (ADAS) and autonomous driving, to roll out the
Powered by Mobileye Program ("The Program") to capture the
lucrative intelligent drive market propelled by the favorable
national policy. INGDAN.com had facilitated cooperation between
Mobileye and various vehicle manufacturers for coach buses, heavy
locomotives and special-purpose vehicles. New energy vehicle
projects, especially in relation to coach buses are expected to
roll out from the fourth quarter 2017 at earliest.
To cater to the automotive market in China with more automobile enterprises,
complex modelling platforms and diverse annual outputs, The Program
is uniquely positioned among Mobileye's global strategies in
boosting sales in China and
INGDAN.com is its pioneer partner in China. INGDAN.com and Mobileye aim at
consolidating their cooperation to exploit synergies from
leveraging Mobileye's leading autonomous driving and INGDAN.com
strong resource-matching capabilities. By achieving localization of
technology transfer, integration and production, Mobileye expects
to see its market share surge in China. Mobileye's leading ADAS technology has
been well-recognized among global automotive manufacturers.
Currently, Intel is acquiring approximately 84 percent of
Mobileye's outstanding ordinary shares listed on The New York Stock
Exchange. Upon the completion, Intel's Automated Driving
Group will merge with Mobileye.
Propelled by the national policy, the market for intelligent
driving in China is embracing new
growth drivers. The Ministry of Transport released at the beginning
of the year new requirement to have business vehicles of lengths 9
metres or above to have LDS (Lane Departure Warning) systems and
FCW (Front Collision Warning) systems installed as standards. This
will bring about a lucrative development opportunity to The
Program. Moreover, the announcement of "China Safety Coach
Assessment Programme" last month by the authorities signified a
realization by the Government of internet safety works covering new
areas and new businesses such as Internet of Vehicles, etc., as the
key area to work on, instilling further impetus the smart car
industry.
Mr. Jeffrey Kang, CEO of Cogobuy
Group, said, "The national policy has given rise to huge demand for
core intelligent driving technologies such as Advanced Driver
Assistance Systems (ADAS) from the automobile manufacturing
industry. This will create huge potential for the industry.
According to projections by HIS Markit, the aggregate value of
automated driving automobile sales will reach 21 million units by
2035, where 5.7 million units will be sold by China market. The Company had planned ahead to
expand its foothold in the smart car business and had established a
long term strategic partnership with Mobileye since 2015. With the
boost from INGDAN.com, the Company successfully facilitated
inclusion of an "ADAS + Internet of Vehicles" solution by Mobileye
in Hong Kong Smart City Development Blueprint. We believe that
following the completion of integration with Intel's Automated
Driving Group, Mobileye will see its leadership position in the
market further reinforced. As Mobileye's first partner in
China, the Company enjoys a
first-mover advantage and should be able to reap benefits from
this. The Company is confident that the intelligent vehicle market
will pick up a rapid-growth path within this year and will become
its new growth driver.
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About Cogobuy Group
Cogobuy Group is the largest e-commerce service platform
serving the electronics manufacturing industry in China. Through the e-commerce platform, which
includes a direct sales platform, an online marketplace, and a
dedicated team of technical consultants and professional sales
representatives, the Company provides customers with comprehensive
online and offline services across pre-sale, sale, and post-sale
stages. The Company serves mainly SME electronics
manufacturers.
For further information, please refer to the Company's website
at http://www.cogobuy.com/
About INGDAN.com
INGDAN.com is a platform dedicated to connecting global
intelligent hardware entrepreneurs and China-based supply chain resources. The
platform provides information on hardware innovation, supply chain
data and supply chain demand docking for global IoT innovators and
entrepreneurs. It is a one-stop hardware innovation business
platform with its core being the "supply chain."
For further information, please refer to the Company's website
at http://www.ingdan.com/
About Mobileye
Founded in 1999, in Jerusalem,
Israel. Mobileye is the global leading supplier for Advanced
Driver Assistance Systems (ADAS) and autonomous driving. With its
cutting edge in vision-safety technology, data analysis, sensing
and mapping, Mobileye is the "third eye" on the road, capable of
reducing or mitigating the risk of collision. Mobileye is the
supplier to 30 world- leading automakers, with its vision safety
technology deployed on over 20
million vehicles, in addition, Mobileye is developing autonomous
driving technologies with 10 other automakers. Currently, Intel is
acquiring 84 percent of its outstanding ordinary shares, and
intended to merge its Automated Driving Group with Mobileye
upon completion of subscription.
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SOURCE Cogobuy Group