Caixin
Nov 18, 2021 06:15 AM
BUSINESS

Hisense May Bid $1 Billion for Siemens Intelligent Traffic Unit

In the first nine months this year, businesses overseas generated 52.6 billion yuan ($8.2 billion) of revenue for Hisense
In the first nine months this year, businesses overseas generated 52.6 billion yuan ($8.2 billion) of revenue for Hisense

Chinese home appliance producer Hisense Group is considering buying the intelligent traffic business of German giant Siemens AG for about $1 billion, people familiar with the matter told Caixin.

Qingdao-based Hisense intends to participate in bidding for Yunex Traffic, the intelligent traffic system unit of Siemens, though no agreement has been reached, the sources said. Siemens and Hisense didn’t comment.

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