Mobile device and information and communications technology supplier Huawei has signed a memorandum of understanding (MoU) with MetaSystem, a UBI (usage-based insurance) specialist. The signing took place at CeBIT 2017 and will see Huawei work with MetaSystem Italy to develop connected car applications and provide a variety of end to end UBI products for the industry.

"The rapid development of IoT industry, has opened up more market opportunities, including connected car. Huawei plans to collaborate with MetaSystem to promote the development and transformation of the connected car industry, assist vehicle companies in digital transformation, and provide fully connected vehicle experiences," the company said in a statement.

The MoU describes the companies' plan integrate MetaSystem's connected car devices and applications with Huawei's OceanConnect IoT platform. In addition, the pair have committed to developing various connected car applications and encouraging innovative development by using the open capabilities of the OceanConnect platform.

"The IoT industry is expected to have a bright future with tremendous business potential. However, IoT can be made a success only by the combined efforts of upstream and downstream partners. [This cooperation] enables us to provide better connected car applications for the industry. We look forward to working with more partners to provide diverse IoT applications for the industry and users," said Zhang Xiwei, VP of the Cloud Core Network product line at Huawei.

MetaSystem CEO Giuseppe Simonazzi said an increasing number of vehicles are being switched from traditional engines to either hybrid or electric engines. In addition to this, the concept of Vehicles as a Service (VaaS) is gaining popularity, which increases demand for sensors and other on-board equipment.

"Huawei is the leading global provider of innovative ICT infrastructure while MetaSystem is an expert in the field of automotive electronics and telematics applications."