Global and China Automotive TSP and Application Service Research Report 2024-2025: In-vehicle Connectivity Services Expand in the Direction of Cross-Domain Integration
In-vehicle connectivity services expand in the direction of cross-domain integration, all-scenario integration and cockpit-driving integration
TSP (Telematics Service Provider) is mainly responsible for data collection and supply between cars and various service providers, thereby providing more diversified services to car owners. TSP services cover navigation, social contact, entertainment, remote maintenance, security, etc. In the trend towards cross-domain integration and cockpit-driving integration, TSPs also quietly make progress, expanding from only in-car connectivity service applications to cross-domain integration, all-scenario integration and cockpit-driving integration.
In cross-domain integration, on the one hand, the modular software platform can realize the functional integration of different domains such as cockpit and intelligent driving domains. On the other hand, phone-IVI integration applications enable the computing power call and ecosystem integration of mobile phones and IVI. All-scenario integration mainly refers to the realization of connectivity services in various scenarios such as interaction, entertainment, social contact, navigation, parking, and charging, centering on all mobility scenarios.
Cockpit-driving integration is mainly to connect the capabilities of intelligent cockpit and intelligent driving. For example, the latest maps launched by Baidu, Tencent and NavInfo link mobility maps with ADAS maps.
Cross-domain integration of system base
As an established TSP, ECARX provides infotainment systems, online membership services, telematics operation and maintenance services, traffic value-added services, etc. to dozens of brands. As of September 30, 2024, ECARX's technical services and products had been available in more than 7.3 million vehicles worldwide.
In the TSP business, Cloudpeak, the cross-domain system capability base released by ECARX in 2024, can form a complete product with different computing platforms, and can support the development of the state-of-the-art infotainment systems and ADAS functions.
ECARX Cloudpeak can interconnect and communicate with all ADAS functions of EX30. It can process the information perceived by radar, cameras and other sensors related to intelligent driving assistance and present it on the cluster screen in front of the driver, thereby maximizing the driver's front view, relieving the anxiety and reducing safety hazards caused by the deviation of the field of vision.
It supports 5G connectivity and OTA updates to ensure that applications and operating systems are always up to date. Going overseas: ECARX Cloudpeak supports EX30 to be launched in more countries and regions around the world. Volvo Cars plans to increase the capacity of this model at its Ghent Plant in Belgium from 2025.
In addition, ECARX has teamed up with Xingji Meizu to integrate the 'mobile phone domain' and the 'vehicle domain' through IVI-phone integration. The intelligent cockpit system based on the ECARX cockpit series computing platform + Meizu FlymeAuto solution can achieve seamless connection, cross-domain cooperation, ecosystem sharing, and data interoperability between mobile phones and vehicles.
ECARX + Xingji Meizu mainly realize the integration of three major capabilities:
Data integration (data integration, account integration, ecosystem integration): Integrate the data sandbox between the mobile phone and IVI from the software level. The most basic storage data, account integration, and integration of millions of mobile phone applications create a new IVI application ecosystem for users.
Team integration (Meizu, ECARX, Lynk & Co): Integrate Meizu's mobile phone industry, ECARX's computing platform and the personalized needs of OEMs to connect cross-industry production processes - in the initial stage of vehicle R&D, locations have been reserved for mobile phones, chips and corresponding functions.
Computing power integration (distributed application ecosystem, IVI-phone integration framework, protocol fusion, heterogeneous networking): reconstruct the underlying communication protocols of IVI and mobile phone, and integrate distributed application ecosystems, phone-IVI integration framework, protocol fusion and heterogeneous networking capabilities to allow the hardware capabilities of mobile phones and vehicles to share with and call each other, so as to meet more usage scenarios. The rapidly iterative mobile phone computing power can also be perfectly integrated with the IVI computing power, making the user experience more 'unbounded'.
All-scenario integration of service capabilities
At the 'TIME DAY' in April 2024, Tencent upgraded its TSP and intelligent cockpit solution to TAI 5.0, and introduced a cockpit foundation model to improve intelligent interaction and active service experiences in an all-round way. It comprehensively upgraded the entertainment ecosystem, mobility services, and phone-IVI integration, ultimately achieving all-scenario integration of service capabilities.
Cockpit-driving integration of maps
In 2024, Baidu, Tencent, and NavInfo all released their latest IVI maps. In addition to 3D maps and lane-level navigation, ADAS maps are also a highlight. Map services and driving assistance are thus integrated.
Updates
Parking lot and parking area recommendation
Parking lot indoor map display and floor switching
Navigation in the parking lot
Lane-level navigation extends to all urban, highway and expressway scenarios
Accompanying route and GLOSA . Human-IVI co-driving guidance
Account system
Phone-IVI integration
WeChat location shared to IVI
More realistic 3D renderings
New energy charging radar layer
Fully automatic calculation of the continuous path
NavInfo's latest map
Key Topics Covered:
1 Overview of Automotive TSP Market
1.1 Definition of TSP
1.2 Development History
1.3 Market Composition
1.4 Business Models
1.5 Typical Business Models
1.6 Suppliers and Business Models
1.7 Charging Modes
2 Infotainment and Navigation & Mobility Services
2.1 Infotainment Services
2.2 Navigation & Mobility Services
2.3 Phone-IVI Integration Services
2.4 Automotive Gaming Services
3 Remote Control Services
3.1 Remote Vehicle Control
3.2 Remote Diagnosis
3.3 OTA
3.4 Rescue Call Services
4 Telematics Connection Services
4.1 Telematics Cards
4.2 Real-name Authentication of Telematics Cards
4.3 eSIM Cards
4.4 Brands and Models Equipped with eSIM Cards
4.5 eSIM and Telematics Connection Service Providers
4.6 Virtual Operators
4.7 Trends of eSIM and Vehicle Connection Services
5 TSP Industry Chain and Competitive Landscape
5.1 Industry Chain
5.2 Competitive Landscape
5.3 Business Layout of TSPs
5.4 Comparison between OEM-led Service Platforms
5.5 Comparison between Service Platforms with Internet Background
5.6 Comparison between Telecom Operator Service Platforms
5.7 Comparison between ICT-backed Service Platforms
5.8 TSP Data Value and Business Model
5.9 Overseas Strategy for TSP Platforms
5.10 Development Trends
6 TSPs
6.1 ECARX
6.2 Bean Tech
6.3 TINNOVE
6.4 Hynex
6.5 OnStar
6.6 Baidu Apollo
6.7 Tencent Auto Intelligence (TAI)
6.8 Banma Information Technology
6.9 PATEO CONNECT+
6.10 China Mobile
6.11 China Unicom Smart Connection Technology
6.12 E SURFING IOT
6.13 Huawei
6.14 OPPO
6.15 VIVO
6.16 Xingji Meizu
6.17 NavInfo
6.18 BICV
6.19 Shenzhen Soling Industrial Co., Ltd.
6.20 Beijing Yesway Connect Service
6.21 Ecar Telematics
6.22 MXNAVI
6.23 Lenovo Connect
6.24 Cihon Technology
6.25 One IOT World
6.26 Uka Technology
For more information about this report visit https://www.researchandmarkets.com/r/qha59m
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'Non-GAAP operating loss' is defined as GAAP operating loss before stock-based compensation, loss on joint development agreement and litigation settlement, net. 'Non-GAAP net loss per share' is defined as non-GAAP net loss divided by weighted average shares outstanding, basic and diluted. 'Non-GAAP net loss' is defined as GAAP net loss before stock-based compensation, loss on joint development agreement, litigation settlement, net, fair value of share subscription liability and change in fair value of warrant liability. We believe that non-GAAP operating loss and non-GAAP net loss per share, when taken together with the corresponding U.S. GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business, results of operations, or outlook. 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In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures or ratios differently or may use other financial measures or ratios to evaluate their performance, all of which could reduce the usefulness of non-GAAP operating loss and non-GAAP net loss per share as tools for comparison. Reconciliations are provided at the end of this release to the most directly comparable financial measures in accordance with U.S. GAAP. Investors are encouraged to review our U.S. GAAP financial measures and not to rely on any single financial measure to evaluate our business. AEVA TECHNOLOGIES, INC. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue $ 5,511 $ 2,012 $ 8,879 $ 4,119 Cost of revenue (1) 8,231 2,860 11,289 6,359 Gross profit (loss) (2,720 ) (848 ) (2,410 ) (2,240 ) Operating expenses: Research and development expenses (1) 22,841 26,196 44,410 51,208 General and administrative expenses (1) 7,969 8,663 15,186 17,074 Selling and marketing expenses (1) 1,393 1,706 3,335 4,235 Litigation settlement, net — 11,500 — 11,500 Total operating expenses 32,203 48,065 62,931 84,017 Operating loss (34,923 ) (48,913 ) (65,341 ) (86,257 ) Interest income 619 2,099 1,626 4,557 Change in fair value of warrant liability (88,478 ) 3,517 (93,878 ) 3,080 Fair value of share subscription liability (69,996 ) — (69,996 ) — Other income (expense), net 106 27 107 24 Loss before income taxes $ (192,672 ) $ (43,270 ) $ (227,482 ) $ (78,596 ) Income tax provision 70 123 127 123 Net loss $ (192,742 ) $ (43,393 ) $ (227,609 ) $ (78,719 ) Net loss per share, basic and diluted $ (3.49 ) $ (0.82 ) $ (4.14 ) $ (1.49 ) Weighted-average shares used in computing net loss per share, basic and diluted 55,161,124 52,995,093 54,956,722 52,868,909 (1) Includes stock-based compensation as follows: Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Cost of revenue $ 32 $ 64 $ 63 $ 166 Research and development expenses 3,434 4,189 6,411 8,178 General and administrative expenses 2,349 913 3,725 1,820 Selling and marketing expenses 209 198 389 461 Total stock-based compensation expense $ 6,024 $ 5,364 $ 10,588 $ 10,625 Expand AEVA TECHNOLOGIES, INC. Condensed Consolidated Statements of Cash Flows (Unaudited) (In thousands) Six Months Ended June 30, 2025 2024 Cash flows from operating activities: Net loss $ (227,609 ) $ (78,719 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 2,716 2,741 Loss on joint development agreement 3,785 — Impairment of inventories 134 559 Change in fair value of warrant liability 93,878 (3,080 ) Fair value of share subscription liability 69,996 — Stock-based compensation 10,588 10,625 Amortization of right-of-use assets 1,830 1,703 Amortization of premium and accretion of discount on available-for-sale securities, net (795 ) (2,096 ) Other — 118 Changes in operating assets and liabilities: Accounts receivable (2,709 ) (216 ) Inventories (1,448 ) (1,184 ) Other current assets 2,849 (3,156 ) Other noncurrent assets 505 317 Accounts payable (1,779 ) 199 Accrued liabilities (2,940 ) 288 Accrued employee costs (3,337 ) (2,999 ) Lease liability (1,932 ) (1,749 ) Other current liabilities (5,820 ) 16,522 Other non-current liability 1,472 — Net cash used in operating activities (60,616 ) (60,127 ) Cash flows from investing activities: Purchase of property, plant and equipment (1,825 ) (2,427 ) Purchase of available-for-sale securities (23,369 ) (52,072 ) Proceeds from maturities of available-for-sale securities 79,149 99,940 Net cash provided by investing activities 53,955 45,441 Cash flows from financing activities: Payments of taxes withheld on net settled vesting of restricted stock units (578 ) (293 ) Proceeds from exercise of stock options 118 54 Net cash provided by (used in) financing activities (460 ) (239 ) Net decrease in cash and cash equivalents (7,121 ) (14,925 ) Beginning cash and cash equivalents 28,864 38,547 Ending cash and cash equivalents $ 21,743 $ 23,622 Expand AEVA TECHNOLOGIES, INC. Reconciliation of GAAP to Non-GAAP Operating Results (Unaudited) (In thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP operating loss $ (34,923 ) $ (48,913 ) $ (65,341 ) $ (86,257 ) Stock-based compensation 6,024 5,364 10,588 10,625 Loss on joint development agreement 3,785 — 3,785 — Litigation settlement, net — 11,500 — 11,500 Non-GAAP operating loss $ (25,114 ) $ (32,049 ) $ (50,968 ) $ (64,132 ) Reconciliation from GAAP to non-GAAP net loss Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP net loss $ (192,742 ) $ (43,393 ) $ (227,609 ) $ (78,719 ) Stock-based compensation 6,024 5,364 10,588 10,625 Loss on joint development agreement 3,785 — 3,785 — Change in fair value of warrant liability 88,478 (3,517 ) 93,878 (3,080 ) Fair value of share subscription liability 69,996 — 69,996 — Litigation settlement, net — 11,500 — 11,500 Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Shares used in computing GAAP net loss per share: Basic and diluted 55,161,124 52,995,093 54,956,722 52,868,909 GAAP net loss per share Basic and diluted $ (3.49 ) $ (0.82 ) $ (4.14 ) $ (1.49 ) Stock-based compensation 0.11 0.10 0.19 0.20 Loss on joint development agreement 0.07 — 0.07 — Change in fair value of warrant liability 1.60 (0.07 ) 1.71 (0.06 ) Fair value of share subscription liability 1.27 — 1.27 — Litigation settlement, net — 0.22 — 0.22 Non-GAAP net loss per share Basic and diluted $ (0.44 ) $ (0.57 ) $ (0.90 ) $ (1.13 ) Expand
