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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Dongfeng Motor Group Company Limited    489   CNE100000312

DONGFENG MOTOR GROUP COMPANY LIMITED

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Alibaba-backed autonomous car firm AutoX starts driverless testing

12/02/2020 | 08:12pm EST
Sign of Alibaba-backed autonomous driving startup AutoX is seen on a modified Chrysler Pacifica minivan in Shenzhen

BEIJING/SHANGHAI (Reuters) - Chinese autonomous vehicle startup AutoX, backed by Alibaba Group Holding Ltd, said on Thursday it has started fully driverless vehicle testing in China with Pacifica minivans from Fiat Chrysler Automobiles NV (FCA).

AutoX, which is also backed by Dongfeng Motor Group Co Ltd and SAIC Motor Corp Ltd, will have a fleet of 25 driverless vehicles in Shenzhen and five in other cities to test the technology. Automakers and technology firms are investing billions of dollars in autonomous driving, aiming to take an early lead in what many consider the future of mobility. Shenzhen-based AutoX has modified a number of vehicles from various manufacturers and tested them in Shenzhen, Shanghai, Guangzhou, Wuhan and Wuhu.

To attract deep-pocketed partners, startups seek to test their technology with different production vehicles in a variety of cities.

In July, AutoX became the second firm after Alphabet Inc's Waymo to test a passenger vehicle on California's public roads without a safety driver in the front.

Unlike rivals WeRide and Baidu, which are testing their driverless vehicles in China but use a remote centre to take control of their vehicles if needed, AutoX will not have a remote centre.

"We think with current communications infrastructure, remote control brings safety issues as 5G signals are not stable yet and hackers might attack the vehicles," AutoX Chief Executive Xiao Jianxiong told Reuters.

In China, companies such as Toyota-backed Pony.ai and Didi Chuxing are also testing autonomous cars, but all with one or two safety staff onboard. The people onboard take control in unexpected situations.

(Reporting by Yilei Sun in Beijing and Brenda Goh in Shanghai, Editing by Sherry Jacob-Phillips)

By Yilei Sun and Brenda Goh


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -0.53% 258.62 Delayed Quote.11.12%
ALPHABET INC. 0.45% 1892.56 Delayed Quote.7.98%
BAIDU, INC. 0.33% 252.75 Delayed Quote.16.88%
DONGFENG MOTOR GROUP COMPANY LIMITED -6.06% 8.52 End-of-day quote.-5.75%
FIAT CHRYSLER AUTOMOBILES N.V. -2.98% 13.24 Delayed Quote.-9.69%
SAIC MOTOR CORPORATION LIMITED -0.67% 23.57 End-of-day quote.-3.56%
TOYOTA INDUSTRIES CORPORATION 0.47% 8540 End-of-day quote.4.27%
TOYOTA MOTOR CORPORATION -1.08% 7660 End-of-day quote.-3.73%
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Financials
Sales 2020 103 B 15 936 M 15 936 M
Net income 2020 9 657 M 1 490 M 1 490 M
Net Debt 2020 21 458 M 3 311 M 3 311 M
P/E ratio 2020 6,24x
Yield 2020 4,71%
Capitalization 61 374 M 9 469 M 9 470 M
EV / Sales 2020 0,80x
EV / Sales 2021 0,77x
Nbr of Employees 136 549
Free-Float 30,8%
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Technical analysis trends DONGFENG MOTOR GROUP COMPANY LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 8,83 CNY
Last Close Price 7,12 CNY
Spread / Highest target 81,1%
Spread / Average Target 23,9%
Spread / Lowest Target -28,2%
EPS Revisions
Managers and Directors
NameTitle
Shao Zhu Li President, CEO & Executive Director
Wei He Chairman-Supervisory Board
Yan Feng Zhu Chairman
Wen Qing Wei Head-Operation Management Department
Jun Yu Head-Organization & Information Department
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