Home / Market Activities / Alliances & Acquisitions / NXP and CAICT sign strategic cooperation agreement to foster innovation in intelligent transportation and connected vehicles

NXP and CAICT sign strategic cooperation agreement to foster innovation in intelligent transportation and connected vehicles

NXP Semiconductors and China Academy of Information and Communications Technology (CAICT), a subsidiary of China’s Ministry of Industry and Information Technology (MIIT) have signed a strategic cooperation agreement to foster innovation in intelligent transportation and securely connected vehicles.

NXP Semiconductors
NXP Semiconductors

CAICT Communication Standards Research Institute Director, Wang Zhiqin, and NXP Global Senior Vice President and President of Greater China, Zheng Li, signed the agreement under the witness of MIIT Electronic Information Department Integrated Circuit Division Director, Ren Aiguang, in Shenzhen, China.

CAICT also announced that the China Ministry of Industry and Information Technology (MIIT) has granted Official Pilot Company status to NXP. CAICT was appointed by MIIT as project lead for the “Sino-German Intelligent Manufacturing Cooperation program” in 2016.

Intelligent, secure connected car technology is a significant growth and innovation driver for the automotive, communications, IC, and transportation industries. With the growth of market demands and rapid advances in technology, the development of securely connected cars has entered the fast track. It is forecast that by 2020 the market for connected cars will increase to $33.8 billion (around 220 billion RMB), and the market penetration rate will reach 67 percent by 2023, making China the largest connected vehicle market in the world.

About Piyush Rajan

Asst. Business Editor |Telematics Wire | Smart automotive

Check Also

Russell_Ure-telematicswire

Connected car technology is a necessary and complementary development for all self-driving cars in the future: Russell Ure

Klashwerks, an engineering design and technology company focused on the emerging connected car market launched …