Deutsche Telekom, China Mobile Plan Connected-Car Network for China

Next year Deutsche Telekom and China Mobile plan to form a joint venture to create a 4G wireless platform that will enable vehicles to access the Internet and communicate with each other.

The partnership will combine the German company's software and Chinese company's infrastructure to capture a piece of China's emerging connected-car market. An estimated 68 million connected vehicles will be on the road in China by 2018, according to The Financial Times.

Booz & Co. has estimated that connected vehicles will account for 90% of new-car sales by the end of the decade compared with 10% today. Consultants EY calculate the connected-car market will generate annual revenue of $25 billion by 2025.