Shanghai (ZXZC)- On June 22, Banma, the joint venture between Alibaba and SAIC Group that provides integral ICV (intelligent-connected vehicle) solutions, inked a strategic agreement with Qoros Auto to cooperate in ICV area.

According to the agreement, both parties will co-develop ICV products and services and jointly explore the innovation in new manufacturing realm. They will make use of resources from respective clients and services to research and develop software and hardware solutions and intelligent service solutions that pertain to autonomous driving technologies.

Reportedly, Banma has currently formed partnerships with several automakers such as Roewe, MG, Dongfeng Citroen and Ford Motor. There are 16 models (over 500,000 vehicles) by far that are equipped with the AliOS-based vehicle-mounted operational system, dubbed Banma Zhixing.

On December 28, 2017, Banma initiated a massive world-scale OTA upgrade (over-the-air) in automobile industry, providing coherent experience in various scenarios, which directly connect payment functions. Currently, Banma's platform has already attracted over 70 mobility companies, covering Tier 1 operators, TSP (trusted sign-on) providers, software solution providers, chip manufacturers and involving businesses such as intelligent hardware, parking, automobile insurance, traffic, battery charging, cloud platform, payment and catering, etc.

Qoros Auto is engaged in its products' and brand transition. Since Baoneng Group acquired 51% stake in Qoros Auto in December, 2017, the automaker has seen evident growth in vehicle production, market operation and sales. For the first five months, Qoros Auto achieved a cumulative sales volume exceeding 23,000 units with a tremendous year-on-year increase of 366%. In May, its monthly sales reached a new high of 7,028 units, jumping 31% over the previous month.