Lizhi Inc. [NASDAQ: LIZI] disclosed that it has joined hands with Xinghe Zhilian Automotive Technology Co., Ltd. Both firms will collaborate to consolidate LIZHI’s audio products into Xinghe Zhilian’s in-car communications and entertainment network. Xinghe Zhilian strives to enhance the driving experience through the development of the Internet of Vehicles (IoV) network and smart cockpit for auto firms.
Xinghe Zhilian Automotive Technology Co was founded in 2020. It has emerged of a joint venture between GAC Group and iFLYTEK. Shares of Lizhi soared 5.31% as it has gained +0.28 during the trading session of Thursday. In the past 52-weeks of a trading session, the share of the firm went up to $1.95 during the 52-week low range and went down to $16.75 during the past 52-week of high range. Lizhi has a total market capitalization of $270.17 million at the time of writing.
Lizhi disclosed that this partnership is aimed to further apply LIZHI’s audio products to more in-car scenarios and further enhance the application of LIZHI’s audio technology in vehicles through Xinghe Zhilian's IoV network. The firm also considered that this collaboration may also speed up LIZHI’s foray into the field of in-car audio and bring LIZHI’s broad podcast content and immersive audio experiences to a wider range of users.
Moreover, Xinghe Zhilian offers auto firms unified intelligent cockpit solutions, artificial intelligence technology, and digital tools. As a service connector, Xinghe Zhilian offers car users open, thorough, and high-quality services for full-scale scenarios and appropriate access to content resources.