Gelonghui, March 20 | Traffic Control Technology (688015.SH) announced that in order to actively expand new business models and business development needs, the company plans to jointly fund the establishment of Beijing Vehicle Link Technology Co., Ltd. (tentative name, final name is based on the industrial and commercial approval name, hereinafter referred to as “Vehicle Link” or “Joint Venture”) with Mita Box, Frontier Freight, Avry, and Frey Consulting. The joint venture has a registered capital of 25 million yuan. Among them, the company invested RMB 7.5 million and held 30% of the shares; Mita Box invested RMB 3.75 million and held 15% of the shares; Frontier Freight invested RMB 5 million and held 20% of the shares; Everry invested RMB 1.25 million and held 5% of the shares; Chechi Chuangchen invested RMB 5 million and held 20% of the shares; and Frey Consulting invested RMB 2.5 million and held 10% of the shares.
The company plans to establish a joint venture to develop a cooperative fleet transportation system for freight trucks. The freight truck cooperative formation transportation system will “connect” two or more trucks through networking technology and autonomous driving technology to achieve autonomous driving with extremely small vehicles to achieve the goals of reducing labor costs, energy consumption, and carbon emissions. Cargo trucks operate in collaborative formations using the method of having a pilot vehicle and no followers to carry out overall multi-vehicle cooperative control to achieve vehicle queue operation, similar to a “train on a highway”, to reduce costs and increase efficiency in the traditional road transport industry. The establishment of the Vehicle and Vehicle Joint Venture will make full use of the rail transit vehicle communication and virtual assembly technology accumulated by the company to achieve overall collaborative control of multiple freight trucks, seize market opportunities, promote the company's virtual marshalling technology to the road freight industry, and further strengthen the company's comprehensive competitive strength.