Deutsche Telekom and China Mobile agree on connected cars joint venture
10 October 2014 |
Deutsche Telekom and China Mobile have today signed an agreement for the development of a joint venture focussed on connected cars.
The venture will be established in China, with each company holding a 50% stake, and is designed to provide 4G-based vehicle information services and a comfortable, convenient and safe driving experience to drivers in the Chinese connected car market.
“Connected car is a strategic initiative within Deutsche Telekom Group, while China is of strategic importance for our connected car business,” said Reinhard Clemens, board member at Deutsche Telekom.
“The partnership with China Mobile is therefore strategically of utmost importance to Deutsche Telekom.”
The joint venture will use China Mobile’s local network resources and expertise, combined with Deutsche Telekom’s connected car platform and operations.
Due to become operational at the beginning of 2015, the two companies expect the joint venture to become a leading telematics service provider.
Operators across the globe have been experimenting with connected car services, and in February this year, Jasper Wireless agreed to power the AT&T Drive platform.