Shanghai (Gasgoo)- BAIC Group on May 15 forged a strategic partnership with China Telecom, a Chinese state-owned telecommunication company, aiming to jointly build an ICV (intelligent-connected vehicle) ecosystem through both business and capital efforts.
Under the agreement, both companies are going to conduct in-depth cooperation in such field as 5G, intelligent connectivity, smart logistics, new retail, data communications information technologies and information infrastructures based on respective merits in R&D, production, service of complete vehicles and relevant auto parts as well as ICT (information and communications technology).
(Photo source: official website of BAIC Group)
Apart from the technology collaboration, two parties will further explore the cooperation in capital domain. For instance, they are about to reinforce the teamwork in investment and financial businesses by participating in each other’s initiative to absorb more investors and jointly setting up a fund. Focusing on respective investment programs, both companies will make joint effort to explore and cultivate forward-looking and influential capital powers for ICV industry.
Additionally, the automaker and the telecommunications operator plan to jointly carry out the 5G-based queue tests for autonomous vehicles during the 2019 Beijing International Horticultural Exhibition.
China Telecom has been speeding up its deployment in 5G domain by proactively teaming up with automakers. On November 26, 2018, it inked a strategic framework agreement with Zhejiang Geely Holding Group to pursue cooperation on corporation informationization, vehicle-to-home Internet, cloud computing, big data, 5G technology, V2X (vehicle-to-everything), edge computing, International businesses, etc.
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