JV to use Beidou for location-based services
Print Edition
CHINA North Industries Group Corp (Norinco Group) and e-commerce giant Alibaba have set up a joint venture to provide location-based services using China’s Beidou navigation satellite system.
The Shanghai-based firm has 2 billion yuan (US$313 million) in registered capital, with the two companies both holding a 50 percent share, according to Norinco Group.
The joint venture plans to offer location-based services and solutions to businesses using the Beidou system and online networks.
Beidou is currently one of four dominant navigation systems worldwide, along with the United States’ GPS, Russia’s GLONASS and the European Union’s Galileo.
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