NAVYA announces the signing of a Memorandum of Understanding with ESMO Corporation and SK Telecom to jointly develop an autonomous driving technology notably via a 5G network
Villeurbanne, France, July 24, 2019 – 8:00 am CEST – NAVYA (FR0013018041- NAVYA), a leading company in autonomous driving systems, announces that it has signed a Memorandum of Understanding with ESMO Corporation (073070:KS) and SK Telecom (017670:KS) in the context of a partnership aiming at developing autonomous driving features using the 5G technologies already deployed in South Korea.
Park Jin-Hyo, the Executive Vice-President of SK Telecom, Jeong-Hun Kim, Chief Executive Officer of ESMO Corporation, and Étienne Hermite, Chief Executive Officer of NAVYA, met in Seoul today to formalize the signing of this partnership.
NAVYA will provide its autonomous driving technology and R&D expertise to incorporate features associated with 5G networks, supervision and cloud computing.
ESMO Corporation will be in charge of marketing products and services, notably B2B and B2G1, and setting up a vehicle assembly line in the longer term. ESMO Corporation will also be responsible for designing and localizing the components as well as implementing a supervision platform.
SK Telecom will be responsible for providing technological solutions (connectivity, etc.), accompanying the marketing of the products, notably B2B and B2G, and providing a 5G autonomous driving infrastructure.
Furthermore, the three companies will collaborate on the development of an autonomous vehicle platform dedicated to entertainment and infotainment.
On this occasion, Etienne Hermite, Chief Executive Officer of NAVYA, states: “We are very proud to have signed this Memorandum of Understanding with ESMO Corporation and SK Telecom. This technological and commercial partnership will be a source of substantial synergies that will enable our technology to be further developed. I also firmly believe that our three groups’ expertise will be a benefit to the widespread roll-out of autonomous vehicles in North-East Asia”.
1 Business to Business (B2B) and Business to Government (B2G).
Next financial press release:
July 25, 2019, 8:00 am CEST: H1 2019 revenues.
About ESMO Corporation
ESMO Corporation has been specializing and producing wiring harnesses for internal combustion engine since its establishment in 1994. In recent years, ESMO Corporation is focusing on diversifying its business, producing wiring harnesses for Electric Vehicles and lithium battery technology to add value to the business. ESMO Corporation is a South Korean company listed on the regulated market in Seoul (market capitalization of c. €360m, ISIN code: 073070:KS, KOSDAQ). For more information, visit: http://esmo.co.kr/
About SK Telecom
Established in 1984, SK Telecom, part of SK Group, one of the country’s largest conglomerate, is the largest mobile operator in South Korea by both revenue and number of subscribers. As of December 2017, the company holds around 50 percent of the market, with 30.2 million mobile subscribers including 22.87 million LTE subscribers. It has reached KRW 17.520 trillion in revenue in 2017. SK Telecom has led the advancement of mobile technologies ranging from 2G to 4G, and is currently setting important milestones in its journey to 5G. The company is not only leading innovation in the field of mobile network, but also providing IoT, media, home and platform services. SK Telecom is determined to play a significant role in the Fourth Industrial Revolution by achieving innovations and promoting shared growth with other players in the industry. SK Telecom is a South Korean company listed on the regulated market in Seoul (market capitalization of c. €14bn, ISIN code: 017670:KS, KSE). For more information, visit: https://www.sktelecom.com/index_en.html
NAVYA is a leading French name in the autonomous vehicle market and in smart shared mobility solutions. With more than 270 employees in France (Paris and Lyon) and in the United States (Michigan), NAVYA develops, manufactures and commercializes autonomous, driverless, and electric vehicles that combine robotic, digital and driving technologies at the highest level. Since 2015, NAVYA has been the first to market and put into service autonomous mobility solutions. NAVYA has a range of two autonomous vehicles: the AUTONOM® SHUTTLE, main development axis, launched in September 2015, of which more than 115 had been sold as of 31 December 2018, notably in the United States, France, Germany, Switzerland, Japan and Australia, and the AUTONOM® CAB, unveiled in November 2017 and whose first road tests will start shortly. Created in 2014 with the support of Robolution Capital, investment fund managed by 360 Capital Partners, his reference shareholder, NAVYA’s shareholders also include the Gravitation fund and Paris Region Venture Fund (Région Île-de-France) managed by Cap Decisif Management as well as Valeo and Keolis groups.
NAVYA is listed on the Euronext regulated market in Paris (ISIN code: FR0013018041- NAVYA).