(Yicai Global) June 30 -- NavInfo, a Chinese digital mapping giant, has teamed up with BMW to provide networking services to the German automaker's cars sold in China, a key step for NavInfo in signing up high-end vehicle producers, it said.
NavInfo penned an agreement with BMW’s two Chinese subsidiaries to install in the vehicles its telematics service system and BMW’s ConnectedDrive Store, an in-car service marketplace, the Beijing-based company said in a statement today.
The agreement runs from September 2023 to August 2028 and includes imported and locally produced BMW models and brands such as BMW, Mini, and Rolls-Royce.
A successful partnership with important clients such as BMW would help the navigation systems developer enlist more automaker clients, bringing it a larger market share, NavInfo said. The collaboration also will result in additional revenue, depending on car sales and ConnectedDrive subscriptions, it said.
Navinfo’s telematics services offering features real-time location and navigation, entertainment, social networking as well as remote maintenance service. BMW’s ConnectedDrive Store allows vehicle owners to subscribe to additional functional and entertainment services such as a drive recorder and a high beam assistant.
Despite news of the tie-up, NavInfo’s shares [SHE: 002405] closed down 1.2 percent in Shenzhen today at CNY15.07 (USD2.25).
Editor: Emmi Laine, Xiao Yi