As part of the restructuring of Siemens, the Intelligent Traffic Systems (ITS) business is starts operating as a new company of Siemens Mobility this week.
The drive for machine learning, 5G and cloud computing as part of the smart city means the company needs to have more independence as Yunex Traffic.
The business has annual revenue over €600m and growth of 8 percent providing adaptive traffic control and management, highway, and tunnel automation as well as smart solutions for V2X and toll systems. However, it aims to make more use of automation and digitalization through cloud computing, 5G and AI for more smart city applications.
The re-branding without the Siemens name makes it easier to spin off the business on its own or into a joint venture, which is an increasingly popular strategy for the larger company.
Yunex Traffic will be led by CEO Markus Schlitt and CFO Jan Villwock who ‘will operate with a clear business focus and entrepreneurial freedom, where it can pursue its own growth strategy, build strategic partnerships, shape digitalization in its industry and actively drive market consolidation’ says Siemens.
“The start of Yunex Traffic will mark a significant milestone in the journey of Siemens Mobility. In today’s fast changing world, companies must always be able and willing to adapt quickly and effectively to new trends, customer preferences and changing competitive market conditions, and that’s exactly what we are doing here. We believe Yunex Traffic, under the expert leadership of Markus and Jan, will now be better positioned to strategically pursue new opportunities, actively shape the market, and secure the investments that will enable the business to grow,” said Michael Peter, CEO of Siemens Mobility.
“Rapid population growth is straining the transportation systems and road networks of major cities around the world, and increasing levels of congestion, delays, and air pollution are leading to a decline in quality of life. With digitalization and the use of disruptive technologies, Yunex Traffic will actively shape the ‘what’s next in traffic’ movement by enabling city and mobility operators worldwide to intelligently optimize and integrate traffic management. This will not only result in the greater availability and reliability of mobility, but the reduced emissions will contribute to cleaner and more livable cities,” said Markus Schlitt, CEO of Yunex Traffic.
Yunex Traffic is active in over 40 countries worldwide and its intelligent mobility solutions are currently being used in major cities across the world, including Dubai, London, Berlin, Bogota, and Miami. Siemens says Yunex Traffic is the only supplier who can offer all major regional standards in Europe, UK, Asia, and America.
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