Benzinga | Apr 13, 2021 08:02AM EDT

WiMi Hologram Reports Partnership With Toyota Group's Electronic Subsidiary, No Terms Disclosed

WiMi Hologram Cloud Inc. (NASDAQ:WIMI) ("WiMi" or the "Company"), a leading Hologram Augmented Reality ("AR") Technology provider, today announced that it has established a partnership with an electronic subsidiary of Toyota Group ("Toyota").

Toyota was the world's largest automaker by total revenues in 2020 and is the world's first automaker to produce more than 10 million vehicles in a year. Toyota's largest single market is the United States of America, in which Toyota sold approximately 2.76 million automobiles in 2019. Toyota has more than 360,000 employees around the globe and was named the 10th largest company in the 2020 Fortune Global 500 List.

As a provider of comprehensive holographic technology solutions, WiMi focuses on holographic AR automotive applications, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payments, interactive holographic communications, and other holographic AR technologies.

With the rapid development of the electric vehicle ("EV") industry, the demand for onboard 3D holographic pulse LiDAR, holographic AR HUDs, holographic AR navigation, holographic AR windshields, holographic AR rear-view mirrors, onboard holographic AR communications, and other onboard holographic AR services has increased significantly. To fulfill the surging demand for holographic EV applications, the Company plans to develop multiple solutions, covering holographic vehicle devices, holographic vehicle chips, and holographic vehicle software. Going forward, the Company will remain committed to integrating holographic hardware and software solutions to develop more holographic AR application products for the EV industry and to establish additional customer relationships.