On 7 July 2018, YUTU and BEIDOU TIANYUN officially signed a strategic agreement during a solemn signing ceremony. Together with BeiDou Navigation Satellite System (BDS), YUTU will establish global IoV blockchain supercomputing centers to serve car users worldwide.  

BDS is a Chinese proprietary global satellite navigation system. It is the third full-fledged satellite navigation system after GPS from America and GLONASS from Russia. BDS, together with GPS, GLONASS and GALILEO are designated suppliers of International Committee on Global Navigation Satellite Systems. While YUTU, a spinout from Alibaba, has more than 70million car users and is one of China’s largest IoV social community and mobile Internet application service provider. YUTU is also a leading company in blockchain technology.

Through technological collaboration with BDS, YUTU will establish network worldwide and build connected-car blockchain (IOV) super computingcenters to provide IoV blockchain service in the automobile industry.