Letv to set up fund for in-car app developers
Print Edition
BEIJING-BASED Letv, which plans to debut own-brand electric cars next year, aims to create a fund of 500 million to 1 billion yuan (US$81 million to US$161 million) to support and attract developers of in-car applications, the company said yesterday at the Shanghai auto show.
The new player of the auto industry also said it would cooperate on an in-car entertainment system with luxury car manufacturer Aston Martin.
Letv, already the No. 1 listed firm in China’s ChiNext growth enterprise market, displayed an in-car system for the first time in the booth of BAIC Motor Corp, another of its partners. The system features new technologies like vehicle-to-vehicle communications, wireless connection with smartphones for entertainment and navigation as well as two phone-size screens instead of rearview mirrors.
“Letv has an Internet DNA, and therefore it will quicken the process of research and manufacturing,” said John Gao, Letv’s vice president, a 20-year veteran in the auto industry.
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