Parkopedia, a parking services provider, announced a joint venture with Zhitu Map, China’s geospatial surveying company. This joint venture will provide hundreds of millions of Chinese drivers with up to date on-street parking data, including space availability information, which will allow drivers to go directly to an open parking space instead of circling the block searching for one.
The joint venture will leverage Parkopedia’s position in the automotive digital parking services sector as well as Zhitu Map’s knowledge in the field of surveying and mapping. The main aim of the joint venture is to create a unique customer offering in China, which will tackle the challenges of urban mobility head on whilst improving the quality of life in big cities.
Commenting on the announcement, Parkopedia’s CEO Eugene Tsyrklevich said, “We are thrilled to extend our very successful cooperation with Zhitu Map to this new venture. Since the opening of our Shanghai office in 2014, Parkopedia has firmly established itself as the parking services leader in China. The automotive industry in China has long recognised the quality of Parkopedia’s premium grade off-street service and extending our service to include on-street was the next logical step.”
He Xiaojun, Chairman and Founder of Zhitu Map, added, “We are delighted to partner with Parkopedia and look forward to taking smart city parking services in China to the next level. Zhitu Map continues to increase its investment in research and development and will also focus on technological innovation in areas such as smart parks, smart cities, smart transportation and other fields. The application of big data and the continuous development of new products will make cities more livable while also improving people’s lives.”
The joint venture will be based in Yangzhou (Jiangsu province) and will launch operations towards the end of 2018.