Continental has announced that it has formed a new joint venture (JV) company with China Unicom Smart Connection (CUSC), aimed at providing Intelligent Transportation Systems (ITS) solutions for increasing market demands in China. The newly-formed JV company, called Unicom Continental Intelligent Transportation Technology (Shanghai) Co Ltd (UCIT) will be located in Shanghai Hongqiao Business District, with Continental and CUSC having equal share.
UCIT aims to develop and provide ITS solutions and Mobility Services that will better suit the dynamics of the China Market, Continental said. The companies signed the strategic JV contract on the first press day of Auto Shanghai on 19 April, 2017. Now the official opening of the new JV is being announced after half a year of preparation and with the support of responsible government authorities, the companies noted.
Enno Tang, President and CEO, Continental China, said the automotive industry is experiencing an unprecedented transformation; major megatrends like automated driving, electrification and connectivity are shaping the future of mobility. With the development of intelligent connected vehicles, the requirements on data and software services are increasing, he added. Tang also said that the establishment of UCIT is an important milestone for the development of Continental’s ITS business in China, and will provide tailor-made connected vehicle products and services.
CUSC and Continental started the strategic collaboration in 2011, and formally established UCIT after a long period of running-in, noted Jiang Zhengxin, Senior Vice President, China Unicom. He said, “we hope this new JV can leverage the strengths between the companies to actively arrange the layout of the international market, build up domestic-and-international integrated service capability to provide software-and-hardware integrated solutions and operation services, and become a world leading technology-based service company in the field of automated driving and intelligent transportation.”