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Partners eye US$16b telematics market
Aggregated Source: Shanghai Daily: Business

CHINA Unicom and Qoros Auto Co yesterday agreed to cooperate in telematics technology, which connects drivers and cars, as both partners aim to penetrate the market which is worth over 100 billion yuan (US$15.8 billion) in the next five years.

China Unicom will leverage its 3G network and data services in Qoros' latest model, covering smart navigation, in-car phone calls and social website sharing and cloud computing services including emergency rescue and real-time monitoring.

"The new telematics technology connects drivers and cars closely and will help distinguish Qoros from rivals," said Guo Qian, chairman and chief executive of Qoros, a new joint venture between Chery and Israel Corp, Israel's largest holding company focusing on fertilizers and specialty chemicals, energy, shipping and transport.

The telematics technology will create a market valued at 100 billion to 150 billion yuan by 2018 due to the development of the mobile Internet and the booming demand for cars in China, according to industry insiders said.

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Copyright Shanghai Daily: Business