- WABCO Holdings (NYSE:WBC) and G7 announced an agreement to form a joint venture in China to develop and sell advanced fleet management systems for trucks and trailers.
- Each company will hold a 50% stake in the new joint venture.
- 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.
- “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.”
- “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.”
- Press Release
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