VILLEURBANNE, France--(BUSINESS WIRE)--Regulatory News:
Navya (FR0013018041- Navya), a leading company in autonomous driving systems, structures its activity in Asia, a region with a particular interest towards new ways of autonomous mobility, allowing solid growth prospects.
Navya has recently consolidated its strategic partnerships with ESMO Corporation and ST Engineering Land Systems (STELS), enabling it to optimize its organization and increase its footprint in South Korea and Singapore, 2 markets with very high potential according to KPMG1. As a reminder, Navya has an installed base of 41 shuttles in the Asia-Pacific region.
Shuttle production in South Korea by ESMO Corporation
Thanks to a strategic partnership signed in June 2019 with ESMO Corporation, which is its exclusive distributor in China and South Korea, Navya is involved in the training of ESMO Corporation teams and has actively collaborated in developing an Autonom® Shuttle production line in the "Jinhae" factory, a 6,000 sq.m. complex. This production line is now operational.
Jeong Hun KIM, CEO of ESMO Corporation, says: “We are proud to bring our industrial expertise and know-how to co-produce the iconic Autonom® Shuttle, which we consider to be a state-of-the-art product. Thanks to local sourcing, we ambition to reduce the manufacturing cost of the vehicle to be even more competitive and thus confirm Navya's leading position in the autonomous vehicle Asian market.”
Creation of a service entity in Singapore with the financial support of STELS
As part of its strategy to develop autonomous transportation solutions for goods and people, ST Engineering Land Systems (STELS), a subsidiary of ST Engineering, Singapore's world-class defense technology and engineering group, has been working with Navya since several years. Navya and STELS thus have launched several significant experiments, such as Gardens by the Bay, a touristic site located in the center of Singapore. New experiments in closed sites are currently under development and should be deployed very soon.
To support the strengthening of this partnership, Navya creates a subsidiary in Singapore, Navya Systems, with the financial support of STELS. Navya sets up a dedicated team to manage deployments, maintenance and training, with a dual objective: guarantee a very high quality of service to Asian customers and accelerate the transfer of skills. This subsidiary is also intended to carry out technological development initiatives specific to the region (private cloud infrastructure, solutions for high-security sites, V2X, etc.).
HOE Yeen Teck, Head of Autonomous Transport at ST Engineering Land Systems (STELS), “We are delighted with Navya’s decision to establish a team in Singapore. This will strengthen our ability to support our clients in their push to autonomous services and help to accelerate the overall take-up of autonomous vehicles in Singapore.”
Etienne Hermite, Chief Executive Officer of Navya, concludes: “We are very pleased to have built strong partnerships with leading companies. We are grateful for the trust they place in us. The quality of our partners and the dynamism of the Asian market announce great prospects in this region of the world.”
Navya is a leading French name in the autonomous driving systems. With 280 employees in France (Paris and Lyon) and in the United States (Michigan), Navya aims at becoming the leading player for the supply of autonomous driving systems for passenger and goods transport. Since 2015, Navya has been the first to market and put into service autonomous mobility solutions. The Autonom® Shuttle, main development axis, was launched in September 2015 and nearly 170 units have been sold as of 30 June 2020, notably in the United States, France, Germany, Switzerland, Japan and Australia. The Autonom® Tract is dedicated to goods transport. Created in 2014 with the support of Robolution Capital, investment fund managed by 360 Capital Partners, his reference shareholder, Navya’s shareholders also include the Gravitation fund and Paris Region Venture Fund (Région Île-de-France) managed by Karista as well as Valeo and Keolis groups.
Navya is listed on the Euronext regulated market in Paris (ISIN code: FR0013018041- Navya).
For more information visit: www.navya.tech/en
1 Source: KPMG’s “Autonomous Vehicles Readiness Index 2020” report, which ranks Singapore No. 1, South Korea No. 7 and Japan No. 11 among a sample of 30 countries according to their degree of maturity in the race for autonomous vehicles.