(Yicai Global) Aug. 17 -- Chinese digital map developer AutoNav Software Co. and satellite positioning service company Qianxun Spatial Intelligence Co. (Qianxun SI) have entered into a strategic partnership to jointly develop autonomous driving solutions, targeting a product release by year's end.

Wei Dong, AutoNav's executive president, and Qianxun SI Chief Executive Chen Jinpei attended the signing ceremony for the agreement in Beijing today, Chinese financial newspaper STCN reported. The two firms said at the event that they will integrate their mapping and positioning capabilities, and develop infrastructure facilities for future driving automation systems. 

Qianxun SI can provide 24/7 seamless high-precision vehicle control and steering services in most regions across China using the BeiDou Navigation Satellite System's 1,450 ground enhancement stations in the country, Chen said.

AutoNav has developed traffic data models using nationwide motorway information and can automatically collect and process traffic data, Wei said.

The companies' collaboratively created product will probably be installed in about 100 million Chinese cars and 1 billion smartphones, Chen said.

Qianxun SI was founded last year by leading e-commerce company Alibaba Group Holding Ltd. [NYSE:BABA] and China North Industries Group Corp. AutoNav was incorporated in 2002, and became Alibaba's wholly-owned subsidiary after a USD1.1 billion takeover in 2014.