Evergrande to develop smart vehicle system
Evergrande Auto is to establish a joint venture with Beijing Tinnove Technology Co Ltd, a Tencent company, to develop a smart vehicle operating system for the Chinese market.
Both parties are expected to give full play to their respective capabilities in new-energy vehicle research and development, manufacturing, artificial intelligence, big data, cloud computation, commuting and other fields to create a smart vehicle ecosystem.
Evergrande will have 60 percent of the joint venture and Tinnove 40 percent.
Evergrande, best known as a property developer, entered the field of new-energy vehicles three years ago.
In June of 2018, Evergrande Health Industry Group Ltd acquired 45 percent of new-energy vehicle startup Smart King Ltd as part of the company’s diversification into the sector.