26 November 2018, Beijing – Zhejiang Geely Holding Group (Geely Holding) and China Telecom Group (China Telecom) signed a strategic cooperation agreement at a ceremony in Beijing.
Under the principles of “friendly discussion, mutual benefit, mutual support, and common development,” the two sides have agreed to establish a long-term strategic cooperative relationship giving full play to their individual core competitive advantages in their respective fields of enterprise digital infrastructure building, smart cars and homes, and cloud computing. The two sides will also cooperate in key areas such as international business development, jointly develop new business models for the next generation of smart cars and homes, explore new applications of cutting-edge technologies in smart cars, and build a smart three-dimensional future mobility ecology.
In recent years, Geely Holding has actively engaged in the development of car-sharing, flying cars, and high-speed rail Wi-Fi to enhance the personal travel experience. China Telecom has significant advantages in infrastructure, customer base, and data sharing. Geely Holding will leverage its extensive experience in transportation, smart ecology, and user experience to collaborate effectively with China Telecom in the development of comprehensive multi-scenario smart mobility service solutions.
Currently, new technologies and new modes of transportation have profoundly affected global transportation and travel. Independent innovation and open collaboration has become the standard for enterprises to tackle the future of traffic management and mass transportation. Looking towards the future, Geely Holding is cooperating with strategic partners to actively advance the fields of vehicle-mounted CPUs, connected vehicles, supersonic trains, industrial internet, etc in order to form an innovative smart three-dimensional future mobility ecosystem. The alliance with China Telecom will accelerate Geely Holding’s transformation into a global innovative technology enterprise.
The two sides will give full play to their respective core competitive advantages, set up special working groups or joint ventures around strategic goals, continuously expand and deepen the scope of cooperation, and carry out cross-industry collaborative innovation to create a smart car network, and contribute to the transformation of the automotive industry.