Chinese internet giant Tencent Holdings is collaborating with Chongqing Changan Automobile to work on connected vehicles, according to media reports.
Both the companies have signed a cooperation agreement to set u a joint venture. According to the agreement, Changan and Tencent will have 49 percent and 51 percent of the joint venture respectively. The total investment in the joint venture by both the companies will be 200 million yuan.
According to China Daily, the joint venture will build an open platform to develop the internet of vehicles, big data and cloud technologies, aiming to offer comprehensive solutions for smart and connected cars and operating services.