Tencent, Genvict to Develop Internet of Vehicles Tech Together
Tang Shihua
DATE:  Aug 27 2019
/ SOURCE:  yicai
Tencent, Genvict to Develop Internet of Vehicles Tech Together Tencent, Genvict to Develop Internet of Vehicles Tech Together

(Yicai Global) Aug. 27 -- Tencent Holdings, one of China's biggest names in tech, has agreed to partner up with fellow Shenzhen company Genvict Technologies in order to develop Internet of Vehicles technology.

Genvict, China's main producer of electronic toll collection cards for automated payments at highway tollbooths, will work with Tencent to create smart road system technologies and find applications for them, it said in a statement yesterday. The pair will commercialize their findings and also plan to build smart vehicle-mounted devices to advance their IoV and ETC-related businesses.

Shares in Genvict opened 3 percent up but had simmered to CNY60.95 (USD8.51), 1.6 percent higher, as of the lunch break.

Genvict will provide the smart hardware and supporting software for the new products, while Tencent will supply application systems and services.

Editor: James Boynton

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Keywords:   Tencent,Genvict Technologies