Aiming to become a leader in artificial intelligence and robotics by 2030, Li Auto (NASDAQ:LI) is expanding its tentacles outside of electric vehicles. Referring to smart electric vehicles as its first AI robots and a basis for more general AI integration into the physical world, CEO Li Xiang said this change is critical for the company's future.
Xiang said in a video posted on the company's website that Li Auto's evolution into a significant AI player will depend much on artificial intelligence. Within a few years, the Beijing-based automaker intends to create one of the top three basic artificial intelligence models in China, thereby challenging established IT behemoths.Including its own proprietary basic model, Mind GPT, Li Auto has set over half of its research and development expenditure for AI projects. Underpinning its in-car assistant, "Li Xiang Classmate," which is now available on mobile platforms, is this technology. Powered by Mind GPT, the company also plans to publish a mobile app for Lixiang Tongxue, an AI assistant.
Li Auto is now giving autonomous driving technology priority as a necessary first step in advancing sophisticated AI-powered robotics, even while it hopes to eventually enter the humanoid robots industry. Its important to know that LI stock has shed a massive 35% on a YTD basis, on the back of the weakness in the EV scene.
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