Memorandum of Understanding Signed Between Marubeni and G7 for Collaboration in the Fleet Management Business
Oct. 19. 2018
On September 12th, Marubeni Corporation (hereinafter, “Marubeni”) signed a Memorandum of Understanding (hereinafter, “MOU”) with G7 regarding broader collaboration in fleet management related businesses. As the first project of their collaboration, Marubeni and G7 are working on starting up a new joint leasing business focused on the lease and rental of temperature-controlled trailers and other cold chain related transportation equipment in China.
G7 is a leading logistics and transportation related IoT (Internet of Things) technology company in China. By collecting and analyzing operating information (e.g. mileage, acceleration, sudden-braking, engine temperature etc.) through smart devices, G7 provides real-time information to customers as a value-added service that improves operational efficiency and safety, and aims to optimize the entire transportation system. Currently, more than 700,000 commercial vehicles and 50,000 corporate customers are already receiving fleet management related service across China by being connected to G7’s platform.
Based on the MOU, G7’s IoT and AI technology will provide smart fleet operation management support, as well as data platform services for Marubeni. This will enable Marubeni to transform its fleet management as smart, data-driven assets. Meanwhile, Marubeni’s vast experience in established international markets will contribute to the development of G7’s - and China’s - cold chain logistics market.
＜Outline of G7＞
|Corporate name||：||Beijing Huitong Tianxia Logistics and Technology Co., Ltd|
|Head office||：||Beijing, People's Republic of China|
|Business||：||Logistics and transportation related IoT services|
|Main Shareholders||：||GLP, Tencent, TEMASEK, Eastern Bell Venture Capital|