BUSINESS

Tencent-Backed NavInfo to Invest $35 Million in Smart Driving Startup

Published: Sep. 30, 2025 1:49 p.m. GMT+8

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NavInfo said it will establish a new platform dedicated to developing smart driving hardware and software. Photo: VCG

Tencent-backed mapper NavInfo Co. Ltd. (002405.SZ) has announced plans to invest in autonomous driving startup PhiGent Robotics Ltd. as it looks to revive growth in its lagging auto software division.

The Shenzhen-listed company will acquire a 39.14% stake in PhiGent Robotics Ltd., becoming the startup’s largest shareholder, according to a filing dated Sept. 28. The deal involves a cash investment of 250 million yuan ($35 million) for newly issued PhiGent shares and the transfer of NavInfo’s in-house intelligent driving subsidiary to PhiGent’s entity on the Chinese mainland. That subsidiary was valued at 1.55 billion yuan.

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NavInfo will invest 250 million yuan for a 39.14% stake in PhiGent Robotics, becoming its largest shareholder but without gaining control.
The deal includes transferring NavInfo’s intelligent driving subsidiary, valued at 1.55 billion yuan, to PhiGent.
NavInfo’s smart driving revenue dropped 37.9% to 77.2 million yuan in H1 2025, though overall revenue rose 5.6% to 1.76 billion yuan.

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Who’s Who

NavInfo Co. Ltd.: NavInfo Co. Ltd. (002405.SZ) is a Tencent-backed mapper founded in 2002. It serves major auto clients like Ford, Daimler, and Volvo, offering advanced driver-assistance system maps and other location services. NavInfo plans to invest 250 million yuan ($35 million) in autonomous driving startup PhiGent Robotics Ltd., acquiring a 39.14% stake and becoming the largest shareholder. This move aims to revive its smart driving business, which saw revenues plunge by 37.9% in the first half of 2025.

PhiGent Robotics Ltd.: PhiGent Robotics Ltd. is an autonomous driving startup that Tencent-backed NavInfo Co. Ltd. plans to invest in. NavInfo will acquire a 39.14% stake, becoming its largest shareholder, through a 250 million yuan cash investment and the transfer of its intelligent driving subsidiary. Despite being the largest shareholder, NavInfo will not control PhiGent, only appointing two directors to its five-member board.

Horizon Robotics Inc.: Horizon Robotics Inc., referred to in Chinese as 地平线, is a company whose chips will be used by NavInfo to develop smart driving hardware and software. NavInfo is establishing a new platform for this development.

Qualcomm Inc.: NavInfo plans to establish a new platform for developing smart driving hardware and software, and this platform will utilize chips from Qualcomm Inc.

Ford: Ford is an auto giant and a major client of NavInfo. NavInfo provides Ford with advanced driver-assistance system maps, high-definition maps, and location-based services.

Daimler: Daimler is one of NavInfo's major clients. NavInfo, founded in 2002, provides Daimler and other auto giants with advanced driver-assistance system maps, high-definition maps, and location-based services.

Volvo: Volvo is a major client of NavInfo Co. Ltd., a Tencent-backed mapper. NavInfo provides Volvo with advanced driver-assistance system maps, high-definition maps, and location-based services.

AI generated, for reference only