G7, one of China’s leading Internet of Things (IoT) technology developers, will have the controlling stake in the venture and work with logistics facility developer GLP and NIO Capital, the investment branch of Chinese electric vehicle maker NIO, to develop smart and autonomous heavy-duty trucks.
IoT refers to the network of physical devices, vehicles and other items embedded with electronics, software and sensors that can connect and exchange data.
“We will work closely with the automotive industry to achieve seamless integration of AI, trucks and logistics scenarios, and will challenge ourselves with a goal of developing a dream truck for logistics companies," said Xuehun Zhai, G7’s founder and CEO.
G7 invests in IoT, big data, AI and smart equipment to improve connectivity and sharing for logistics assets, including trucks and trailers. Julian Ma, president of G7, said there were “historical opportunities and challenges” for the company in redefining smart transport equipment in an era of new technology and big data.
“We look forward to close collaboration with leading automotive groups, logistics companies, high-tech firms, energy companies and financial institutions around the world, and [will] jointly push cross-field innovation to the extreme,” said Ma.
NIO’s founder and chairman, William Li, said the collaboration would take advantage of NIO Capital’s industry access and the resources of NIO’s Blue Sky Alliance. That is the name given to NIO Capital’s investment strategy of getting at least one third of Chinese carmakers to adopt new automotive technologies for the development of connected and intelligent vehicles driven by alternative energy sources.
Li added that the venture would share the automotive industry’s traditional experience and cutting-edge AI technology with the logistics sector.