JV set up to work on Internet-linked cars
Print Edition
ALIBABA has teamed up with Shanghai-based automaker SAIC Motor Corp to set up a 1 billion yuan (US$160 million) joint venture to develop Internet-connected cars.
The joint venture aims to launch its first model in 2016, according to a joint statement yesterday.
“The Internet is expected to improve the way that drivers interact with their vehicles as well as the whole transportation infrastructure,” said Wang Jian, Alibaba’s chief technology officer.
The two companies didn’t reveal how much money each party would invest in the project.
Alibaba said in a statement that its partnership with SAIC would include developing new technologies and services using cloud computing.
Its first Internet-connected car is likely to be one that combines e-commerce features and offers easier access to services such as online navigation under a unified platform, an industry watcher who keeps a close eye on Internet car projects told Shanghai Daily.
SAIC has its own telematics system called inkaNet, providing online navigation and information/entertainment services as well as long-distance diagnosis of car problems.
SAIC shares jumped 4.79 percent to 24.71 yuan yesterday.
Chinese Internet companies and automakers have been quick to team up to start developing partly self-driving and Internet-connected cars, following a path already trodden by US tech giants Google and Apple.
Internet giant Baidu Inc, which leads China’s search market and competes with Alibaba in some areas, is developing automated driving cars, working with car firms like Germany’s BMW AG.
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