Freetech sees growth potential in smart-driving innovation

—Winner of Growth Potential Award, 2024 World Internet Conference Distinguished Contribution Award for Enterprises 

Founded in 2017, Freetech  is located in Wuzhen thanks to the WIC and has harnessed the momentum of vehicle-driven innovation. Since its establishment, the company has grown from a 20-member startup to a global leader in mass-production-ready smart driving solutions. Now employing over 800 people, 75 percent of whom are R & D personnel, Freetech boasts a strong intellectual property portfolio. In the smart driving field, it has filed over 390 valid patents and applications, received 220 patents, 102 of which are invention patents, and obtained 109 software copyrights.

As a homegrown mass-production company, Freetech was among the first to develop software and hardware independently. It has cooperated with top automakers on advanced driver-assistance systems (ADAS) and advanced driving systems (ADS). It has been recognized as a "Chinese Unicorn" and a provincial “Little Giant“ tech firm in Zhejiang. According to industry statistics, during the Jan- Sept period of 2024, it ranked second among domestic suppliers in  passenger vehicle ADAS forward-facing camera market.

In the era of smart driving, Freetech is dedicated to advancing automotive electronic and electrical architectures. With strong system-oriented R&D capabilities, a full-spectrum product portfolio, and a whole-lifecycle service philosophy, Freetech positions itself as an "innovative Tier 0.5" supplier. This approach enables the company to respond to market demands swiftly and directly address the diverse needs of automakers through business interaction, division of labor, and cross-functional integration.

Freetech has established in-depth partnerships with leading domestic passenger and commercial vehicle manufacturers, including Geely, Chang'an, FAW, Foton Daimler, and Dongfeng. Committed to meeting customers’ demands for business flexibility and agility, Freetech is building an open and collaborative smart driving technology platform. By working with ecosystem partners and offering end-to-end smart driving solutions for original equipment manufacturers, the company is moving toward higher-level autonomous driving through continuous technical accumulation and mass-production validation.

In 2023, Freetech's revenue exceeded 900 million yuan ($125 million). It has established a 39-mu (26,000 sq m) world leading intelligent manufacturing base in Wuzhen, which is capable of producing 5 million units of smart-driving products annually. The company has been a regular exhibitor at the WIC, where it has garnered significant attention. It won the second prize at the 2022 "Straight to Wuzhen" Global Internet Competition.

Freetech's ODIN Digital Platform project was recognized and included in the 2023 WIC's "Charm of Science and Technology" collection. It serves as a prime example of a dynamic, innovation-driven company that has thrived in Wuzhen, the permanent venue of the WIC.

The World Internet Conference launched its Distinguished Contribution Award in 2024 to recognize individuals and enterprises that have made outstanding contributions to the global internet sector. The first award ceremony was held at last year's Wuzhen Summit, where seven global leaders and 14 renowned companies were honored.

The award for enterprises is divided into three categories: Social Contribution, Innovation Breakthrough, and Growth Potential. The winners come from diverse sectors, including internet platforms, mobile communications, artificial intelligence, chip design, energy and power, and cybersecurity. The award paints a vibrant and prosperous picture of the global internet ecosystem, encouraging more excellent enterprises to contribute to the development of the internet industry and explore the infinite possibilities of the digital future.