Abu Dhabi-based Bayanat plans to enter a joint venture partnership with South Korea’s Autonomous a2z, to drive the development and deployment of autonomous systems in the UAE and wider MENA region.
Bayanat, majority-owned by G42, is a leading provider of AI-powered geospatial solutions, while Autonomous a2z is a Seoul-based autonomous technology firm.
Entering the second phase of their partnership, the companies announced the official start of their collaboration at the inaugural DRIFTx event in Abu Dhabi earlier this year, where they showcased their autonomous driving capabilities. A vehicle stationed 7,000 kilometers away in South Korea was safely teleoperated from the Bayanat Pavilion in Abu Dhabi during the live demonstration.
The official signing of this joint venture was attended by high-level delegates including Byeong-Nae Yang, Deputy Minister of Trade; Dong-Ki Lee, CEO and President, COEX Convention and Exhibition Center; Sung Hwan Cho, CEO and President, Korea Association of Autonomous Mobility Industry and Hasan Al Hosani, Managing Director, Bayanat.
Al Hosani hailed the decision as momentous for the UAE and the region, and commented: “Bayanat is delighted to announce our intention to enter a joint venture with Autonomous a2z. Our continued partnership underpins the strength of our Smart Mobility Solutions offerings. In bringing together our respective expertise, we are powering development of transport solutions and bolstering innovation.”
Moving forward, the joint venture aims to deploy autonomous systems that lean on learnings from Bayanat’s TXAI pilot project with the Department of Municipalities and Transport (DMT) and Abu Dhabi Mobility. Together, the two companies aim to build a network of autonomous vehicles that can transport passengers between inner-city hubs such as Abu Dhabi airport, the capital’s major tourist attractions and the city’s hospitality offerings.
Speaking about the partnership, Han Ji-hyeong, the CEO of Autonomous a2z, added: “We are thrilled to enter into this partnership with Bayanat, a leader in AI-powered geospatial solutions that complements our autonomous driving solutions perfectly.
“For us, the anticipated joint venture represents the first major partnership outside of South Korea. We believe that collaboration with local companies is essential to capture the global autonomous vehicle market, which is why many OEMs enter into joint ventures.”
Autonomous a2z announced in October last year that it raised 340 billion won ($252 million) in a Series B funding round, which is to be used for mass production development of their autonomous vehicle platform and to fund their global expansion efforts.
According to Business Korea, the autonomous mobility solutions under development by Autonomous a2z include a 12-seater driverless shuttle named PROJECT MS, designed in a boxcar format, and PROJECT SD, a delivery vehicle capable of carrying more than 300 kg. Both vehicle types can travel on regular public roads at a maximum speed of 60 kph in fully autonomous mode.
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