Chinese IT solutions and services supplier Neusoft Group has signed a joint venture agreement with Alpine Electronics and Shenyang Fu Rui Chi to build a joint venture named Neusoft Ruichi Automotive Technology (Shanghai) Co., Ltd.

With this move, Neusoft Group will be able to distribute in smart, Internet, and new energy automobile electronics businesses.

Neusoft Ruichi will have registered capital of CNY384.62 million. Neusoft Group will invest CNY157.7 million, accounting for 41% of the total registered capital, which makes it the controlling company of the joint venture; Alpine Electronics will invest CNY150 million, accounting for 39% of the total registered capital; and Fu Rui Chi will invest CNY76.92 million, accounting for 20% of the total registered capital.

The new joint venture will focus on innovations and developments of various automobile-related sectors, including new energy vehicle battery management, key technologies about intelligent charging, advanced driver assistance systems, unmanned driving innovations, and telematics basing on an open cloud platform.

Wang Yongfeng, president of Neusoft Group, said that the establishment of Neusoft Ruichi is an important strategic layout in the automobile electronics business sector for Neusoft, which is promoting business innovation and transformation.