Saturday, October 9, 2010

TomTom and AutoNavi team up in Chinese market

AMSTERDAM, THE NETHERLANDS & BEIJING, CHINA: TomTom, the world’s leading provider of location and navigation solutions, and AutoNavi Holdings Ltd, a leading provider of digital map content and navigation and location based solutions in China, announced the formation of a joint venture.

This collaboration provides TomTom and global automotive, location based services and handset companies access to industry leading digital maps and real-time traffic services in China in a standard TomTom format. The joint venture will be 51 percent held by AutoNavi and 49 percent held by TomTom.

“This allows our customers to have access to the highest quality map data and advanced features that exist in China within the standard TomTom format which expands on our ability to offer our customers a global solution,” said Alain De Taeye, member of the Management Board, TomTom.

AutoNavi's CEO, Congwu Cheng added: “We are very pleased to deepen our relationship with TomTom, which we are confident will open new opportunities for us to work with international automakers, system integrators and global handset makers in the future. Ultimately, this partnership will help us grow our in-dash business and further penetrate the mobile handset market.”

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