The launching ceremony for 10 landmark projects focusing on the internet of vehicles is held in Chongchuan district, Nantong on May 27. [Photo/WeChat account: chongchuanonline]

Chongchuan district, Nantong, Jiangsu province issued a plan for the establishment of a provincial-level pioneer area focusing on the internet of vehicles on May 27.

The district also signed cooperation agreements with seven domestic leading enterprises engaged in the IoV on the same day.

IoV is an innovative industry integrating automobiles, electronics, information communication and transport. It can realize connection and data exchange among vehicles, individuals and service platforms, improve traffic efficiency and reduce the number of accidents.

Industrial development in this field has begun to take shape in Chongchuan district. Tongji University's science and technology park, covering 100,000 square meters, is a demonstration park in the region and has gathered 29 enterprises involved in the industrial chain.

The district is expected to invest 46 million yuan ($6.44 million) to set up two demonstration roads and one demonstration industrial park. The roads adopting both 5G technology and IoV are designed to stretch 8.3 kilometers in total.

In the next three years, the district plans to develop an improved industrial chain covering terminals for the IoV and intelligent facilities along roads, with related industries valued at over 10 billion yuan.