Changan Auto Teams With Tencent to Develop Internet of Vehicles

Changan Auto Teams With Tencent to Develop Internet of Vehicles

Tang Shihua

Date: Fri, 04/13/2018 - 14:12 / source:Yicai
Changan Auto Teams With Tencent to Develop Internet of Vehicles
Changan Auto Teams With Tencent to Develop Internet of Vehicles

(Yicai Global) April 13 -- Chongqing Changan Automobile Co., one of China’s biggest carmakers, will join with a map-compiling unit of Chinese internet titan Tencent Holdings Ltd. to develop an Internet of Vehicles platform.

 

The pair signed an agreement in which Tencent Dadi Tongtu Technology Co. will hold a 49-percent share with a total CNY98 million (USD15.6 million) investment, while state-backed Changan will retain the remaining 51-percent share with a CNY102 million stake. The joint venture will design a platform which includes developing an IOV operating system, building a big data cloud and using a facial recognition and authentication system.

 

Changan will cease sales of traditional fuel vehicles from 2025 and fully electrify all its products, it announced last year. Its NEV line-up will include 21 pure-electric vehicles and 12 hybrid-electric cars, while projecting overall investment of CNY100 billion in its industry chain by 2025.

Editors: Ben Armour, Emmi Laine

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Keywords: Changan Auto, TENCENT, joint venture, IOV, AI, Big Data