Conti and China Unicom kicks off its joint venture

Continental and CUSC will have an equal 50% share in the new joint venture – Unicom Continental Intelligent Transportation Technology (Shanghai) Co., Ltd. (UCIT) – which will located in Shanghai Hongqiao Business District. With this new venture the companies aims to develop and provide ITS solutions and Mobility Services which will better suit the dynamics of the China Market. “The automotive industry is experiencing an unprecedented transformation, Major Mega trends like automated driving, electrification and connectivity are shaping the future of mobility,” said Enno Tang, President and CEO of Continental China, “with the development of intelligent connected vehicles, the requirements on data and software services are increasing. The establishment of UCIT is an important milestone for the development of our ITS business in China, and the new company will provide tailor made connected vehicle products and services to satisfy the increasing market demands in China.” Mr. Jiang Zhengxin, Senior Vice President of China Unicom said: “We hope this new joint venture can leverage the strengths between China Unicom and Continental to actively arrange the layout of the international market, build up domestic-and-international integrated service capability to provide software-and-hardware integrated solutions and operation services, and become a world leading technology-based service company in the field of automated driving and intelligent transportation.”