TomTom, AutoNavi Form JV for Chinese Map

Navigation and map provider TomTom has formed a joint venture with AutoNavi Holdings Limited, a leading provider of digital map content and LBS solutions in China. The joint venture will be 51% held by AutoNavi and 49% held by TomTom.

This collaboration provides TomTom and its customers access to local digital maps and real-time traffic services in a standard TomTom format.

"We are very pleased to deepen our relationship with TomTom, which we are confident will open new opportunities for us to work with international automakers, system integrators and global handset makers in the future,” said Congwu Cheng, AutoNavi’s CEO. “Ultimately, this partnership will help us grow our in-dash business and further penetrate the mobile handset market."

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