(Yicai Global) May 31 -- Xingmin Intelligent Transportation Systems (Group) will cooperate with US smart vehicle networking and smart city product maker and solutions provider Savari to develop smart Internet of Vehicles technology products and applications.

The two penned their corresponding five-year framework agreement yesterday, Xingmin announced the same day.

Founded in 1999 and based in the port city of Longkou in China's eastern Shandong province, Xingmin has evolved from a maker of steel wheels to a researcher and developer of IOV data acquisition technologies. It was formerly named Shandong Xingmin Wheel. It and Savari will jointly develop smart on-board networked vehicle terminal products, build a testing base, develop testing and algorithm technologies, and promote vehicle-to-everything scenarios applications and smart traffic data operation services.

Vehicle-to-everything, or V2X, refers to information exchanges between vehicles and their external environment. Savari has developed V2X communications technology solutions, mainly car-to-car, car-to-network, car-to-infrastructure, and car-to-pedestrian.

Savari, which formed in the US Silicon Valley in 2011, is a provider of systematized communications solutions for automakers. Its products comprise various software and hardware services and sensors and its cooperative partners include US-based network technology developer Qualcomm and car manufacturer SAIC Motor's North American unit.

Editor: Ben Armour