TAIPEI, Taiwan–(BUSINESS WIRE)–Taipei based wealth management company Brooks Dawson Alliance has recently commented on Dongfeng Motor Corporation. The company aims to provide a 5G experience within its upcoming vehicle range.
Dongfeng is renowned in China as they make up the top five carmakers in the country. The company has announced that it will be partnering with Tencent Holdings and China Mobile in creating 5G enabled vehicles.
Its research and development department announced two main facilities that will focus on connectivity for 5G and enhancing car safety.
“The partnership has been made just in time for the highly anticipated 5G technology, before it is rolled out, it will be expected to transform the automotive industry and offer new capabilities which were not previously available,” commented David McVey, Director of Institutional Trading at Brooks Dawson Alliance.
China has become a hub for accelerating technology; the new term ‘internet of cars’ has been used to describe connected vehicles. China has announced that it wants smart cars to account for 50% of all new vehicles sold by 2020, according to the National Development and Reform Commission.
“There has been a push to enable the faster 5G roll out as soon as possible, this has been exciting news for autonomous driving start-ups that are counting on 5G to enable the transmission of faster data between vehicles and the cloud,” added Tony Matthew, a senior Director of Private Clients at Brooks Dawson Alliance.
Researchers and analysts from Brooks Dawson Alliance noted that Chinese companies such as Alibaba Group Holding announced similar partnerships with big automotive giants such as Audi, Honda and Renault in June. Its competitor, Baidu also upped its stake by adding key partnerships with the likes of Volvo, Volkswagen and BYD.
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Mr. Xing Yimu, Head of Research