Zhitu Map and Parkopedia have unveiled a joint venture to provide hundreds of millions of Chinese drivers with up to date street data, including space availability, which will allow them to go directly to an open space instead of circling the block searching.
The joint venture will leverage Parkopedia's position in the automotive digital parking services sector as well as Zhitu Map's knowledge in the field of surveying and mapping.
"Since the opening of our Shanghai office in 2014, Parkopedia has established itself as the parking services leader in China," said Parkopedia CEO, Eugene Tsyrklevich.
"The automotive industry in China has recognised the quality of Parkopedia's off-street service and extending our service to include on-street was the next logical step."
For his part, Zhitu Map chairman and founder, He Xiaojun, added: "Zhitu Map continues to increase its investment in research and development and will also focus on technological innovation in areas such as smart parks, smart cities, smart transportation and other fields.
"The application of big data and the continuous development of new products will make cities more liveable while also improving people's lives."
The joint venture will be based in Yangzhou (Jiangsu province) and will start operations towards the end of this year.