Benzinga | Aug 4, 2021 07:08AM EDT

LIZHI Reports Partnership With PATEO For Development Of Co.'s Audio Products In PATEO's Internet Of Vehicles Platform, No Terms Disclosed

LIZHI INC. ("LIZHI" or the "Company") (NASDAQ:LIZI), a leading online UGC audio community and interactive audio entertainment platform in China, announced today that it has partnered with PATEO, a leading Internet of Vehicles (IoV) company in China, to boost the development of LIZHI's audio products in PATEO's loV system.

Founded in 2009, PATEO is one of China's leading IoV and intelligent networking connected car companies, and is committed to providing research and development, manufacturing and digital connectivity support services for intelligent in-car information systems. PATEO's software design is based on Service-Oriented Architecture (SOA) to offer users software applications for cockpit, vehicle, and autonomous vehicle usage scenarios. PATEO's technology has been integrated into close to 100 vehicle models from about 30 automobile brands across more than 30 countries and regions.

This partnership will enable synergetic collaboration between LIZHI and PATEO by bringing together sophisticated technologies from their respective fields. LIZHI will capitalize on PATEO's expertise in IoV and smart cockpits to further optimize the application of in-car audio products in various usage scenarios and provide users with more diverse in-car audio entertainment options.

LIZHI aims to offer users a high-quality in-car audio experience leveraging LIZHI's extensive and personalized audio content offerings, AI-powered intelligent recommendation and distribution systems, as well as the Company's in-house audio technology solution DOREME. Both LIZHI and PATEO will also actively work on exploring usage scenarios for in-car audio and the potential of in-car audio applications.

"We are very pleased to cooperate with LIZHI to jointly advance the development of the Internet of Vehicles ecosystem," said Mr. Ken (Yilun) Ying, Founder and Chief Executive Officer of PATEO. "PATEO will utilize its unique software and hardware capabilities to promote the application of LIZHI's audio products in more in-car scenarios and at the same time accelerate the integration of LIZHI's audio products into automotive systems."

Mr. Jinnan (Marco) Lai, Founder and Chief Executive Officer of LIZHI, said, "The innovative spirit of PATEO's technologies is a perfect match for LIZHI's strategy in proprietary audio solutions. I believe that this partnership may bolster LIZHI's integration of audio into various devices and usage scenarios. In the future, we will continue enriching our audio content, advancing our proprietary technology, collaborating with more leading companies, and continuously providing diverse audio experiences to a wider range of users."