ICONIQ Joins Hands with BIG WORLD and OBON to Expand the Southeast Asian Market

ICONIQ, a leading smart electric vehicle (EV) company in China, recently signed memorandums of understanding with BIG WORLD, a leading Thai automobile company, and OBON, a well-known local telecommunications network company in Southeast Asia. ICONIQ and BIG WORLD will cooperate in smart city operations and 5G-based autonomous driving in Thailand’s Free Trade Zone, supported by OBON’s 5G technology. This move also marks ICONIQ’s official entry into the Southeast Asian market and is a milestone in its market development and technology output.

As a high-end intelligent EV brand, ICONIQ has adhered to passenger-centric principles since its establishment in 2016, i.e. to provide an enriched and personalized riding experience for every passenger. In addition, ICONIQ is committed to integrating comfort, entertainment, office, and advanced technologies into its head-turning vehicles. It has been pointing to the future direction for smart EV developments in general.

With the rapid advancements of the industry, the key successful factors for the intelligent vehicle industry in the future won’t be hardware but software that defines cars. Digitalization has become the general trend and the focus of differentiation within the global automobile industry. Putting passenger experience in the first place, ICONIQ aims to meet the needs of every passenger with continuous upgrades and optimization. AI technologies, including an on-board control system, multiple sensors, and autonomous driving, are integrated to create ICONIQ’s smart passenger vehicle (SPV) combined with extraordinary design.

BIG WORLD plans to order 20,000 cars from ICONIQ, with deliveries expected within three years. Meanwhile, the two parties are discussing further plans to build production facilities in Thailand to support the local economy, as well as to localize research and development of autonomous driving technology.

The trilateral cooperation is seen as a win-win move, whereby BIG WORLD can leverage ICONIQ’s leading innovative technologies and vehicles, which will promote the development of the smart vehicle industry and 5G-based autonomous driving technology in Thailand.

As an electronic vehicle company in Thailand, BIG WORLD is committed to developing, designing, and distributing electronic vehicles in Thailand and other Southeast Asian markets. OBON, as a leading telecommunication network technology research and development enterprise, is committed to promoting the development and application of 5G technologies in Southeast Asia, encompassing Thailand, Laos, Myanmar, Vietnam, and Cambodia, etc.

It is worth mentioning that to promote the development of autonomous driving technology in Thailand; the prerequisite is the implementation of infrastructures for 5G-based vehicle-road cooperation. Based on the 5G network, the vehicle-road cooperation system is believed to be a fundamental part of the future smart city operation as it can actually connect the intelligent vehicles, infrastructures, and computing centers to support autonomous driving for all the vehicles and the whole intelligent transportation system which will promise safety, efficiency, and sustainability. Considering the rapid development of 5G network and intelligent infrastructure, Thailand is an ideal place to experiment and build the vehicle-road cooperation system. It’s believed that the joint efforts amongst ICONIQ, OBON and BIG WORLD will make the ample application of autonomous driving come into reality sooner.

As home to about 70 million people and the regional automobile manufacturing and export center of Southeast Asia, Thailand has been ushering the development of the clean energy automobile industry. The clean energy or electric transformation of the automobile industry will also profoundly affect the development of Thailand’s economy and manufacturing industry. At present, the Thai government has formulated several policies for the development of the clean energy vehicle industry and strives to upgrade Thailand into a clean energy vehicle manufacturing and sales hub. In this context, ICONIQ’s footprint in Thailand will not only meet the needs of the local industry development but also benefit many enterprises around the supply chain.

The Thai government has reportedly proposed that all cars sold in Thailand will be electric by 2035. In order to achieve this goal, the government has approved dozens of projects related to electric vehicle production worth over $1.1 billion, and has pledged continued support via tax subsidies, land banks and skilled labor, making  Thailand a leading emerging market for EV developments. Besides cooperating with local partners, ICONIQ has analyzed the local industrial policies, laws, and regulations, as well as technical requirements to make its design, production, and technical innovations in autonomous driving more adaptive to Thailand and Southeast Asia, which will promise to maintain ICONIQ’s early mover advantages.

At present, the EV market is experiencing unprecedented macro growth globally. ICONIQ, with years of development and accumulation of technologies, design, supply chain relationships, branding expertise, and unique products, will secure a core position in the EV industry worldwide.

ICONIQ plans to go public in the U.S. through a merger with a special purpose acquisition company (SPAC)  as soon as this year, and the combined company could be valued at around $4 billion, sources said. In addition to Thailand and Southeast Asia, the company will also leverage its strong roots and relationships in the Middle East under its long-term development plans to become an iconic benchmark in the global smart EV industry.

Media Contact
Company Name: ICONIQ
Contact Person: Moka Zhao
Email: Send Email
Country: China
Website: https://www.iconiqmotors.com/