April 22, 2024

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Borqs Technologies Enters into the Automobile and EV Smart

SANTA CLARA, Calif., Dec. 22, 2021 (Globe NEWSWIRE) — Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a worldwide company of 5G wireless alternatives, Internet of Items (IoT) options, and innovative cleanse electricity with functions in the United States, India and China, nowadays announced that the Business has entered into a 5 12 months Strategic Cooperation Agreement with Cheyin Intelligent Systems, Co. Ltd. (“Cheyin”), an intelligent auto solutions service provider for car OEMs, such as automobile interactive process growth, services primarily based on state-of-the-art artificial intelligence technologies.

Borqs and Cheyin’s cooperation options to build the sensible digital cockpit industry by deploying Qualcomm’s integrated and scalable automotive answers, like but not minimal to the R&D and producing of In-Car-Infotainment techniques, intelligent cockpit methods, intelligent assisted driving units and other merchandise based on the Qualcomm technologies platform.

In the course of the previous 10 years, Cheyin has successively cooperated with Buick, Cadillac, Chevrolet, Skoda, SAIC GM, SAIC Volkswagen, FAW Pentium, FAW Mazda, FAW Toyota, Beijing Hyundai and other vehicle enterprises, serving a lot more than 10 million motor vehicle homeowners and people. Cheyin has nearly 1,000 staff members and has places of work in China and Singapore.

Pat Chan, the Chairman and CEO of Borqs claimed: “We are quite delighted to crew up with Cheyin to leverage our deep knowledge in the IoT and embedded computer software remedies. Borqs has created application for In-Auto-Infotainment methods in the past various many years which have been installed in some of the China-manufactured vehicles. Electronic transformation in the vehicle industry is accelerating in the coming years since of the sturdy growth of electrical cars. Future vehicles will be additional software centric and clever to increase client encounters. We appear forward to our cooperation with Cheyin to address the enterprise opportunities in the great EV smart cockpit industry.”

Mckinsey has projected the long term development on the traditional cars’ evolving into smart products on wheels exactly where motorists can get the job done, socialize, and be entertained.
https://www.mckinsey.com/organization-capabilities/advertising-and-product sales/our-insights/the-new-important-to-automotive-achievement-place-shopper-expertise-in-the-motorists-seat

For extra information about Cheyin Clever Technologies, make sure you stop by the company’s site at: www.vcyber.cn

About Borqs Systems, Inc.
Borqs Systems is a Qualcomm portfolio corporation, a world leader in software and items for the IoT, offering customizable, differentiated and scalable Android-based mostly clever connected equipment and cloud service answers. Borqs has realized leadership and consumer recognition as an progressive stop-to-conclude IoT options provider leveraging its strategic chipset partner interactions as well as its wide software program and IP portfolio. Borqs’ one of a kind strengths involve its Android and Android Put on Licenses which enabled the Organization to create a software IP library covering chipset software package, Android enhancements, domain precise usage and process overall performance optimization, ideal for massive and reduced quantity personalized products. The Company is also at present in advancement of 5G products for phones and hotspots.

Borqs not too long ago obtained managing pursuits in a photo voltaic power storage units enterprise in the U.S.

Ahead-Searching Statements and Additional Info
This press launch includes “forward-looking statements” that include challenges and uncertainties that could cause actual success to differ materially from what is envisioned. Phrases these types of as “expects”, “believes”, “anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”, “might”, “plan”, “possible”, “should” and variants and similar terms and expressions are meant to identify such ahead-hunting statements, but the absence of these text does not indicate that a assertion is not forward-hunting. This sort of ahead-wanting statements relate to upcoming activities or potential final results, dependent on at the moment readily available information and facts and replicate our management’s present beliefs. Quite a few aspects could induce precise activities or final results to differ materially from the gatherings and final results talked over in the forward-wanting statements, which include the possibility that the business enterprise chances and things to do as described herein may possibly not be completed or at all, and the damaging impression of the COVID-19 pandemic on the Company’s source chain, revenues and overall final results of operations, so the reader is suggested to refer to the Chance Factors sections of the Company’s filings with the Securities and Trade Fee for added details determining essential components that could lead to genuine benefits to vary materially from these predicted in the forward-hunting statements. Apart from as expressly expected by relevant securities law, the Enterprise disclaims any obligation to update any ahead-on the lookout statements, no matter if as a consequence of new facts, upcoming situations or if not.

Trader Contact:

Sandra Dou

Vice President of Corporate Finance

Borqs Systems, Inc.

[email protected]