Borqs Technologies Enters into the Automobile and EV Smart Cockpit Market
December 22 2021 - 9:30AM
Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”),
a global provider of 5G wireless solutions, Internet of Things
(IoT) solutions, and innovative clean energy with operations in the
United States, India and China, today announced that the Company
has entered into a five year Strategic Cooperation Agreement with
Cheyin Intelligent Technologies, Co. Ltd. (“Cheyin”), an
intelligent vehicle solutions provider for automobile OEMs,
including vehicle interactive system development, services based on
advanced artificial intelligence technologies.
Borqs and Cheyin’s cooperation plans to develop
the smart digital cockpit market by deploying Qualcomm’s integrated
and scalable automotive solutions, including but not limited to the
R&D and manufacturing of In-Vehicle-Infotainment systems,
intelligent cockpit systems, intelligent assisted driving systems
and other products based on the Qualcomm technology platform.
During the past decade, Cheyin has
successively cooperated with Buick, Cadillac, Chevrolet, Skoda,
SAIC GM, SAIC Volkswagen, FAW Pentium, FAW Mazda, FAW Toyota,
Beijing Hyundai and other automobile enterprises, serving more than
10 million vehicle owners and users. Cheyin has nearly 1,000
employees and has offices in China and Singapore.
Pat Chan, the Chairman and CEO of Borqs said:
“We are very pleased to team up with Cheyin to leverage our deep
expertise in the IoT and embedded software solutions. Borqs has
developed software for In-Vehicle-Infotainment systems in the past
several years which were installed in some of the China-made
automobiles. Digital transformation in the automobile industry is
accelerating in the coming years because of the robust growth of
electric vehicles. Future cars will be more software centric and
intelligent to enhance customer experiences. We look forward to our
cooperation with Cheyin to address the business opportunities in
the tremendous EV smart cockpit market.”
Mckinsey has projected the future trend on the traditional cars’
evolving into smart devices on wheels where drivers can work,
socialize, and be
entertained.https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-new-key-to-automotive-success-put-customer-experience-in-the-drivers-seat
For more information about Cheyin Intelligent
Technologies, please visit the company’s website at:
www.vcyber.cn
About Borqs Technologies,
Inc.Borqs Technologies is a Qualcomm portfolio company, a
global leader in software and products for the IoT, providing
customizable, differentiated and scalable Android-based smart
connected devices and cloud service solutions. Borqs has achieved
leadership and customer recognition as an innovative end-to-end IoT
solutions provider leveraging its strategic chipset partner
relationships as well as its broad software and IP portfolio.
Borqs’ unique strengths include its Android and Android Wear
Licenses which enabled the Company to develop a software IP library
covering chipset software, Android enhancements, domain specific
usage and system performance optimization, suitable for large and
low volume customized products. The Company is also currently in
development of 5G products for phones and hotspots.
Borqs recently acquired controlling interests in
a solar energy storage systems company in the U.S.
Forward-Looking Statements and
Additional InformationThis press release includes
“forward-looking statements” that involve risks and uncertainties
that could cause actual results to differ materially from what is
expected. Words such as “expects”, “believes”, “anticipates”,
“intends”, “estimates”, “predicts”, “seeks”, “may”, “might”,
“plan”, “possible”, “should” and variations and similar words and
expressions are intended to identify such forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking. Such forward-looking statements
relate to future events or future results, based on currently
available information and reflect our management’s current beliefs.
Many factors could cause actual events or results to differ
materially from the events and results discussed in the
forward-looking statements, including the possibility that the
business opportunities and activities as described herein may not
be completed or at all, and the negative impact of the COVID-19
pandemic on the Company’s supply chain, revenues and overall
results of operations, so the reader is advised to refer to the
Risk Factors sections of the Company’s filings with the Securities
and Exchange Commission for additional information identifying
important factors that could cause actual results to differ
materially from those anticipated in the forward-looking
statements. Except as expressly required by applicable securities
law, the Company disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Contact:
Sandra Dou
Vice President of Corporate Finance
Borqs Technologies, Inc.
sandra.dou@borqs.net
www.borqs.com
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