Bayanat Announces Joint Venture with South Korean Autonomous a2z
Bayanat (ADX: BAYANAT), a leading provider of AI-powered geospatial solutions, has announced its intention to enter into a strategic joint venture with South Korean autonomous technology firm, Autonomous a2z. This collaboration aims to drive the innovation and development of autonomous systems in the UAE and the wider MENA region.
The announcement was made during the inaugural DRIFTx event in Abu Dhabi, where Bayanat and Autonomous a2z showcased their autonomous driving capabilities. The highlight of the event was a live demonstration of a vehicle being safely teleoperated from Abu Dhabi, while the vehicle was 7,000 kilometers away in South Korea.
This strategic partnership is timely, coinciding with the recent establishment of the Smart and Autonomous Systems Council (SASC) by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi. The SASC aims to drive the development and integration of smart and autonomous systems across various sectors within the UAE, further cementing the nation’s position as a leader in technological innovation.
The joint venture signing was attended by high-level delegates including Byeong-Nae Yang, Deputy Minister of Trade; Dong-Ki Lee, CEO and President of COEX Convention and Exhibition Center; Sung Hwan Cho, CEO and President of the Korea Association of Autonomous Mobility Industry; and Hasan Al Hosani, Managing Director of Bayanat.
The collaboration will build on Bayanat’s TXAI pilot project with the Department of Municipalities and Transport (DMT) and Abu Dhabi Mobility. The joint venture aims to deploy a network of autonomous vehicles to seamlessly transport passengers between key inner-city hubs, such as Abu Dhabi airport, major tourist attractions, and hospitality venues. Discussions also include extending the use of autonomous systems beyond the public transport sector.
Hasan Al Hosani, Managing Director of Bayanat, said, “Bayanat is delighted to announce our intention to enter into a joint venture with Autonomous a2z. Our continued partnership underpins the strength of our Smart Mobility Solutions offerings. This decision is momentous for the UAE and the region. By combining our expertise, we are powering the development of transport solutions and bolstering innovation.”
Han Ji-hyeong, CEO of Autonomous a2z, added, “We are thrilled to enter into this partnership with Bayanat. This joint venture represents our first major partnership outside South Korea. Collaboration with local companies is essential to capture the global autonomous vehicle market. We are confident that our collaboration between A2D in the Middle East, A2G in Singapore, and A2Z in the UAE is a significant step towards becoming a global autonomous vehicle company and represents a great opportunity.”
For more information about Bayanat’s Smart Mobility Solutions (SMOS) division, visit www.bayanat.ai.
