A signing ceremony for the establishment of TianTong FuLian's production base for smart driving hardware products takes place in Shanghai's Lin-gang Special Area on June 19. [Photo/WeChat ID: shlgguanweihui]

The Lin-gang Special Area Administration, Shanghai Lingang Economic Development Group, and Shanghai TianTong FuLian Electronic Technology Co Ltd signed a cooperation agreement on June 19.

TianTong FuLian plans to invest in Lin-gang Special Area to establish a production base for smart driving hardware products, such as domain controllers and other automotive electronic products. Once fully operational, the project is expected to generate an annual output value of over 6 billion yuan ($826.4 million).

The company's domain controllers are compatible with several mature chip platforms, including NVIDIA, Horizon, Texas Instruments, NXP, and Qualcomm. These controllers have already been adopted by leading domestic car manufacturers.

TianTong FuLian plans to create the first integrated software-hardware smart driving domain controller production base in Lin-gang. It will do this by leveraging its shareholders' strengths in edge computing and intelligent manufacturing, as well as utilizing its independently-developed autonomous driving software algorithms, efficient engineering delivery capabilities, and customer resources.

With the increasing penetration of smart driving technology in new vehicles, the market for smart driving domain controllers is expected to expand rapidly. The market size of smart driving technology is projected to reach 35.1 billion yuan by 2025 and 124 billion yuan by 2030.