(MENAFN- Mid-East)
The joint venture will drive innovation and development of autonomous systems in the UAE connecting major inner-city hubs.
This is the latest development in an ongoing strategic partnership that highlights the potential of AI-powered geospatial predictive capabilities.
Abu Dhabi, UAE July, 2024:Bayanat, (ADX: BAYANAT) a leading provider of AI-powered geospatial solutions, today announced its intention to enter into a strategic joint venture partnership with Autonomous a2z, a South Korean autonomous technology firm. The joint venture will focus on the development and deployment of autonomous systems in the UAE and wider MENA region.
Entering the second phase of their partnership, the two companies announced the official start of their collaboration at the inaugural DRIFTx event in Abu Dhabi earlier this year. At the event, the partners showcased their autonomous driving capabilities with a live demonstration of a vehicle 7,000 kilometers away in South Korea being safely teleoperated from the Bayanat Pavilion in Abu Dhabi, UAE.
This strategic partnership comes at an opportune time, as it was just announced that Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, has issued a resolution to establish the Smart and Autonomous Systems Council (SASC). This new council aims to drive the development and integration of smart and autonomous systems across various sectors within the UAE, further cementing the nation's position as a leader in technological innovation. The new Council has a broader remit compared to previously established councils, addressing multiple sectors beyond just vehicles and reflects a more comprehensive approach to integrating smart technologies across all facets of society and the economy.
The official signing of this joint venture highlights the strong international cooperation between the UAE and South Korea. The signing was attended by high-level delegates including Byeong-Nae Yang, Deputy Minister of Trade; Dong-Ki Lee, CEO and President, COEX Convention and Exhibition Center; Sung Hwan Cho, CEO and President, Korea Association of Autonomous Mobility Industry and Hasan Al Hosani, Managing Director, Bayanat.
Moving forward, the joint venture aims to deploy autonomous systems that, with under, lean on learnings from Bayanat's TXAI pilot project with the Department of Municipalities and Transport (DMT) and Abu Dhabi Mobility. Together, the two companies aim to build a network of autonomous vehicles that are seamlessly carrying passengers between inner-city hubs such as Abu Dhabi airport, the capital's major tourist attractions and the city's expansive hospitality offering. Part of the discussions are also use cases that extend beyond public transport sector.
Managing Director of Bayanat, Hasan Al Hosani, said:“Bayanat is delighted to announce our intention to enter into a joint venture with Autonomous a2z. Our continued partnership with Autonomous a2z underpins the strength of our Smart Mobility Solutions offerings. This decision is momentous for the UAE and the region. In bringing together our respective expertise, we are powering development of transport solutions and bolstering innovation.”
At the forefront of autonomous vehicles and drone technology in the Middle East, Bayanat boasts a strong Smart Mobility Solutions (SMOS) portfolio. Their proven capabilities span across various technological domains, including Autonomous Solutions, Cloud Infrastructure, Digital Twins, Charging Infrastructure, Transportation Super Apps, and Testing and Simulation.
Speaking about the partnership, Han Ji-hyeong, the CEO of Autonomous a2z, said:“We are thrilled to enter into this partnership with Bayanat, a leader in AI-powered geospatial solutions that complements our autonomous driving solutions perfectly. For us, the anticipated joint venture represents the first major partnership outside of South Korea. We believe that collaboration with local companies is essential to capture the global autonomous vehicle market, which is why many OEMs enter into joint ventures. We are confident that our collaboration between A2D in the Middle East, A2G in Singapore, and A2Z in the UAE is a huge step towards becoming a global autonomous vehicle company and represents a great opportunity.”
About Bayanat:
Bayanat, an ADX-listed public company with majority shareholding by G42, provides comprehensive world-class AI-powered geospatial solutions to a growing number of sectors such as Government Services, Environment, Energy & Resources, Smart Cities and Transportation. Its offering includes topographic, hydrographic, and aeronautical products and charts, as well as spatial data surveying, analysis, management, modeling, visualization, and cartography services. Bayanat's solutions harness vast amounts of premium and unique data from a range of sources including Satellites, High Altitude Pseudo Satellites (HAPS) and Earth Observation powered by AI to drive geospatial intelligence (gIQ).
About Autonomous a2z:
Autonomous a2z is the leading autonomous driving solutions provider in South Korea, excelling in covering extensive distances and offering solutions for the widest range of vehicle types. Having completed over 80 projects with the size of more than 250 million USD funded by the Korean government, underscoring our commitment to advancing autonomous mobility. We've achieved more than 400,000km of self-driving distance, approximately 20 successful demonstrations, and have registered 40 approved autonomous vehicles in Korea, all of which makes a2z as No.1 autonomous vehicle company in Korea.
Introducing a new paradigm in autonomous driving, Autonomous a2z connects humans and cities through technology-driven mobility innovations that are Infrastructure-Ready, Service-Driven, and Software-Defined. From revolutionizing transportation to implementing interchangeable systems, we aim to drive progress across urban/suburban landscapes and unlock the value of an autonomous driving mobility platform in a Smart City.
With expertise in autonomous vehicle software and hardware development, a2z ensures seamless for diverse autonomous driving applications from mid and large size buses to small passenger cars. Our technology emulates human cognitive abilities, enabling intelligent decision-making in driving conditions, acceleration, and direction.
As we expand globally, we welcome partnerships, especially from forward-thinking sectors, to explore our ground-breaking solutions in autonomous transportation. Together, let's shape the future of mobility.
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