Recently, The first intelligent transportation integration project of Hisense, a leading enterprise in Intelligent Transportation in China, landed in Ethiopia. For overseas business expansion, Zhang Sihai, president of Hisense Network Technology, responded positively to the acquisition of Sub-Gate Transportation for the first time: two rounds of quotations have been given.
Siemens' intelligent mobility business has a history of 100 years and was one of the four core businesses of Siemens Mobility. In November this year, news broke that Hisense intends to invest $1 billion to acquire Siemens' traffic lights and other road traffic control system businesses.
"We gave two rounds of offers." Mr. Zhang did not give a clear offer amount, but said Hisense's involvement in the Siemens Mobility acquisition was for two purposes: marketing and technology. However, after evaluation, Hisense found that compared with the rapid development of China's urban transportation, Siemens has no obvious advantage in the complexity of the solution, and the complexity of China's domestic urban transportation is rare in the world, which tempers the competitiveness of domestic enterprises in technology, products and services. "We want to do it and see if we can get their market, and that makes sense." Zhang Sihai said.
Zhang Sihai, President of Hisense Network Technology. Photo courtesy of Hisense
"If you want to go big in China's intelligent transportation industry, going to sea is a road that must be taken." Zhang Sihai said that Chinese companies have formed a leading edge in the core technology and scenario solutions in the field of intelligent transportation, which is precisely the shortcomings of foreign companies, the two sides can complement each other, if the acquisition of Siemens is not successful, they can take other ways to enter the international market.
It is understood that the Ethiopian project is Hisense's first overseas intelligent transportation project, which will help Addis Ababa build a more convenient and efficient public transportation intelligent management system in the next two years, providing local residents with a convenient and efficient transportation travel experience. Earlier, Zhou Houjian, chairman of Hisense Group, said at an internal meeting, "The next important breakthrough in Hisense's internationalization is in the B2B industry." "Marked by the Ethiopian intelligent transportation project, Hisense's B2B industry will usher in greater market opportunities around the world.