Shanghai (ZXZC)- Haier Group, a Chinese multinational home appliances and consumer electronics company, has invested in PATEO, a Shanghai-based IoV (Internet of Vehicles) product and service provider, as a strategic investor, according to a local media outlet.

(Photo source: Haier)

The information has been confirmed by Ying Yilun, founder of PATEO, via his WeChat Moments, while the investment amount and the specific shareholding proportion haven't been disclosed.

Founded in October 2009 and headquartered in Shanghai, PATEO is one of earliest companies in China that tapped the IoV area. It is dedicated to developing and manufacturing the intelligent in-vehicle information service systems and providing relevant supporting services. As an independent third-party service supplier, PATEO is working on building a cross-platform system that integrates in-vehicle system, Internet and mobile phone, and focuses on auto-related life services.

(Photo source: PATEO)

According to PATEO, the clients it serves not only include such Chinese indigenous OEMs as BAIC Motor, BAIC BJEV, Changan, Great Wall Motor, Dongfeng Fengshen, Haima Automobile, Geely Auto, Chery, FAW Group, the joint ventures like FAW-Volkswagen, SAIC Volkswagen, SAIC-GM and DPCA, but also contains a number of global auto brands, such as Audi, Mercedes-Benz, Porsche, Bentley and Lamborghini, etc.

In late March, the IoV enterprise said it has secured a strategic investment from Chinese auto giant Dongfeng Motor Corporation, signifying that the two parties will carry out in-depth cooperation and join hands to open up a new era for the IoV industry.

What's more, Suning Holdings Group and Xiaomi are also among of PATEO's line of strategic investors.