Toyota Motor (TMC) and NavInfo, a China-based map production firm, will partner to form a joint-venture (JV) company for the distribution of map data to car navigation systems in China.
The JV called Telemap China, is scheduled to start services in 2013 with starting capital of about $9.2m.
In the new JV NavInfo will have 51% stake, while TMC and Beijing Media Technical Solution (BMTS) will have 39% and 10% respectively.
Since 1996, TMC and NavInfo's parent company, China Siwei Surveying & Mapping Technology, have been engaged in technical cooperation on map data creation for car navigation systems.
The integration of TMC's telematics technology and NavInfo's map production and management technology will enable both the companies to offer even more timely and accurate map distribution services.
