Internet of Things (IoT) technology company G7, modern logistics technologies provider GLP, and private equity fund NIO Capital have announced a joint venture that will focus on developing next generation smart heavy-duty trucks powered by “autonomous driving, new energy technologies, logistics big data and exploring innovative models of 'vehicle-as-a-service.'”

The joint venture, which is controlled by G7, is built on “G7's massive real-time data and fleet management capabilities, GLP's open logistics ecosystem and NIO Capital's extensive automotive industry partnership.” The aim of the joint venture is to create the “next generation of smart vehicles for logistics and transportation through cross-industry collaboration.”

Immediate objectives of the joint venture are to develop “industry-leading, autonomous driven electric heavy-duty trucks that are highly efficient, safe and easy to manage and to build innovation in 'asset-as-a-service' for the logistics and transportation industry via artificial intelligence.”

“Redefining smart transportation equipment through new technologies and big data, as well as bringing innovation into asset management and 'asset-as-a-service' in the age of road transportation robots, represents historical opportunities and challenges to us,” says G7 President Julian Ma.

“We look forward to close collaboration with leading automotive groups, logistics companies, high-tech firms, energy companies and financial institutions around the world and jointly push cross-field innovation to the extreme.”

Ming Mei, Co-Founder and CEO of GLP, says, “GLP is focused on leveraging data to help our customers improve efficiency and maximizing the value of our logistics assets. We are pleased to join this JV with G7 and NIO Capital to drive forward technological innovation as well as exploration of applying renewable energy in the logistics industry globally.”

Finally, NIO's Founder, Chairman, CEO and NIO Capital's Managing Partner William Li, says, “focusing on mega industries and creating major projects sit at the core of our investment approach and are the driver of our partnership with G7 and GLP. In our collaboration, we expect to take full advantage of NIO Capital's industry access, actively leverage the resources of NIO's 'Blue Sky Alliance' and share the automotive industry's traditional experience and cutting-edge AI technology with the logistics sector.”