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TUS International Together with Leading Enterprises in the Industry Co-founded the National Innovation Centre of Intelligent Connected Vehicles

12.03.2018

(9th March 2018 - Hong Kong) TUS International Limited (“TUS International” or the “Company”, stock code: 872.HK; together with its subsidiaries, abbreviated as the “Group”), as the founding shareholder, and certain leading enterprises of the industry (including automotive OEMs and mobility service providers) entered into a formal agreement to jointly establish the National Innovation Centre of Intelligent Connected Vehicles (the “Innovation Center”).

The development of intelligent connected vehicles is an important strategy among the strong science and technology powers worldwide. The joint establishment of the National Innovation Center of Intelligent Connected Vehicles is the key in responding to global competition and implementing national strategy of China, and a method in defining standards and inventing technologies by the utilization of cross-industry and cross-border resources with the principle of original innovation.

The Innovation Center, as the national innovation platform, has China’s intelligent connected vehicle development strategy as the principle of top-down design, and the forward-looking and common cross key technologies as the main support. Pursuant to the abovementioned agreements, eleven leading enterprises of the industry (including TUS Cloud Control) agreed to each contribute RMB50 million and hold 9.09% equity interest in the Innovation Center.

 

Position of the Innovation Center and its mission

The National Innovation Center of Intelligent Connected Vehicles is positioned as the innovation hub connecting the industry chain and technical chain, and the core source of forward-looking and common cross key technologies, core public platform of research and development, transformation of technological achievements, innovation and development of the industry, and the base in gathering and cultivation of high-end talents.

The Center shall provide common platforms and basic modules in serving the development of intelligent connected vehicle industry’s ecosystem in China by following the national strategy and tackle the common problems of the industry, accordingly enhance the competitiveness and better utilise the unique advantages of various enterprises of the industry, and in turn strengthen China’s position in this field.

 

Close cooperation with the Innovation Center

The National Innovation Center of Intelligent Connected Vehicles shall expand its research and development team, and closely cooperate with its shareholders and corresponding institutes in the development and commercialization of various forward looking and common technologies (including research on standards, rules and regulation of intelligent connected vehicles, L4 autonomous driving common tech-modules pursuant to China’s standard and the basic technologies of in-vehicle artificial intelligence, etc.) and the supporting facilities for common cross key technologies (including the intelligent connected vehicles cloud control platform, next generation in-vehicle terminal platform and the high precision map platform). The joint establishment of the Innovation Center by TUS International and the leading enterprises, and the close cooperation between the Company and the Innovation are strategically important to our development of the technologies for the intelligent connected vehicles cloud control platform, the next generation of in-vehicle computing platform and the next generation of in-vehicle terminal projects.