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WABCO Signs Agreement With G7 to Form Joint Venture for Truck FMS
Date:2017-04-25 Source:global newswire
www.chinatrucks.com: WABCO Holdings Inc. (WBC) and G7 today announced an agreement to form a joint venture in China to develop and sell advanced fleet management systems for trucks and trailers. WABCO is a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. Privately-held G7 is an award-winning technology leader in China’s fleet logistic industry with a base of over 400,000 connected vehicles. Each company will hold a 50% stake in the new joint venture.
WABCO is extending into China to further leverage its rich portfolio of fleet management systems (FMS). As a full systems supplier, WABCO can uniquely connect trucks, trailers, cargo, drivers, business partners and fleet operators in real time, resulting in actionable management insights, while measurably improving fleet safety, operating efficiency and asset utilization.
G7 provides 85% of China’s largest logistics companies with real-time solutions that connect trucks, drivers, shippers and fleet managers. Through the G7 platform, businesses access their data metrics to gain full visibility into their transportation ecosystem. The cloud-based system handles order processing, asset tracking, dispatch/route planning, and fuel monitoring. G7’s extensive nationwide support and installation network means that fleets are equipped onboard quickly and reliably.
The new joint venture will develop innovative Trailer FMS solutions for the Chinese fleet market, drawing on WABCO’s leading capability in trailer telematics and trailer electronic braking system (TEBS) as well as G7’s telematics expertise. These solutions will capture and process real-time vehicle-control systems data, including roll stability support (RSS), braking performance, cargo and route optimization, axle-loading, and vehicle tracking, among other safety and efficiency differentiators.
In addition, the joint venture’s Trailer FMS solutions will link with WABCO’s award-winning Intelligent Trailer Program, which monitors and controls more than 40 onboard functions such as OptiTire™ safety assistance, OptiLock™ high security and OptiFlow™ aerodynamic efficiency technologies. Fully customizable to individual fleet needs, WABCO’s Intelligent Trailer Program is the industry’s most comprehensive suite of options that helps fleets to reduce operational costs, save fuel, and increase the safety and comfort of drivers.
The joint venture will also further develop G7’s Truck FMS solutions, leveraging WABCO’s proprietary vehicle data, to set new standards for cargo transportation safety, efficiency and connectivity in the Chinese fleet market.
“This joint venture agreement in China is another important step toward globalizing WABCO’s fleet management systems business as we shape and seize opportunities in China,” said Nick Rens, WABCO President, Trailer Systems, Aftermarket and Off-Highway.
“Our partner G7 will gain access to WABCO’s leading truck and trailer telematics capabilities, along with the sophisticated information for trucks and trailers that WABCO’s onboard systems provide. Together, we can offer unrivaled capabilities for fleets, particularly in vehicle and cargo management,” said Rens. “Our new joint venture also represents the beginning of a stream of recurring revenues.”
“Partnering with WABCO, a major global technology leader in commercial vehicle control systems, will enable us to develop substantive and highly differentiated first-to-market solutions for trucks and trailers. By leveraging the comprehensive data from WABCO’s onboard systems, we will be able to raise the bar on driver safety and truck security,” said Zhai Xuehun, G7 Chief Executive Officer. “We look forward to building new products together tailored to China’s evolving fleets and rapidly developing road transport network.”
“Joining forces with G7, a recognized technology leader in China’s growing logistics sector, provides a significant single point of entry into the Chinese world of fleet management,” said Sujie Yu, WABCO Vice President, Asia-Pacific and Business Leader China. “Combining our capabilities, we expect to be first to market in China with fleet management solutions for both trucks and trailers that are differentiated through mobile and web-based applications, which increasingly empower fleets to operate with optimal safety, efficiency and security.”
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