MXNavi gains strategic investment from Tencent, to cooperate in IoV, vehicle navigation

Shanghai (Gasgoo)- Chinese Internet giant Tencent has recently completed a strategic investment in Shenyang MXNavi Co., Ltd (MXNavi), according to local media. Both parties will develop in-depth cooperation in such areas as IoV (Internet of Vehicles) and automotive navigation to offer high-quality experiential mobility services in various scenarios.

MXNavi focuses on developing and supplying car-borne navigation and location-based services. Based on the NDS (Navigation Data Standard), the company is operating the fast-growing business of intelligent-connected navigation engine and data compilation concerned. Besides, MXNavi partnered with Tencent to jointly provide OEMs with digital IoV services, including the deep integration of navigation-related technologies and the fusion and development of competitive product modalities.

In addition, MXNavi also works on supplying the product solutions integrating data, software, hardware and services, as well as running the China's first city-level intelligent parking platform via its subsidiaries.

MXNavi possesses outstanding technologies and engineering service capabilities in both automobile and mobility areas. Moreover, it has formed partnerships with a number of OEMs at home and abroad. The newly-built partnership with Tencent will boost the development and deployment for the navigation solution provider in vehicular sensor, autonomous driving and Internet cloud ecosystem, etc.

Tencent has abundant Internet resources and the full-user social media platform Wechat. As to the IoV field, the Internet giant’s mass copyrights of music, video and news could be seamlessly connected with the in-vehicle service system. Its industry-leading capabilities in vehicle intelligent connectivity and platforms of security, big data, cloud computing and AI (artificial intelligence) will complement the technology and resource shortage for its partners, so as to build an integrated open service system.