Asian Partners Form JV to Develop Self-Driving Electric Truck

Three Asian companies are launching a joint venture to develop next-generation mobility technologies and services for the heavy-duty truck market.

The group comprises G7 Networks, a Beijing-based Internet of Things technology company; Singapore’s Global Logistic Properties (GLP); and NIO Capital, a 4-year-old Chinese private equity fund.

Their venture, which will be controlled by G7, will focus on autonomous driving, new energy technologies, big data logistics and “vehicle-as-a-service” systems. No details were provided regarding development and launch timing goals.

The partners aim to build on G7's real-time data and fleet management capabilities, GLP's open logistics platform and NIO Capital's network of automotive partners.

G7’s Internet of Things platform serves more than 50,000 customers and connects more than 600,000 vehicles, which the company says is the largest open digital platform in China's logistics sector.

GLP is developing “smart” logistics and building a logistics system. NIO Capital specializes in next-generation automotive, mobility and energy systems.