Toyota to establish map data distribution JV in China
TOYOTA CITY —
Toyota Motor Corp) and NavInfo Co, a China-based map production company, will cooperate to establish a joint-venture company for the distribution of map data to car navigation systems in China.
The joint-venture company, Telemap China Co Ltd, is scheduled to begin services in 2013 with starting capital of approximately $9.2 million. Equity participation will consist of 51% provided by NavInfo, 39% provided by Toyota and 10% provided by Beijing Media Technical Solution Ltd (BMTS1).
NavInfo’s parent company, China Siwei Surveying & Mapping Technology Co, and Toyota have engaged in technical cooperation on map data creation for car navigation systems since 1996. The integration of TMC’s telematics technology and NavInfo’s map production and management technology will enable the two companies to provide even more timely and accurate map distribution services.