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World leader in parking and mobility solutions

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JOINT INSIGHTS

Summary

On 25 March 2019 in Paris, during the state visit of China’s President Xi Jinping to Paris, Sunsea and Indigo signed a strategic partnership in the presence of Bruno Le Maire,the French Minister for the Economy and Finance,and Shan Zong, the Minister of Commerce for the People’s Republic of China. This partnership took shape with the creation of a joint venture concluded on 16 September in Nanning, China. Serge Clémente, President of the Indigo Group, and Yan Liang, CEO and founder of Sunsea, discuss this alliance and present their visions of the future.

Summary

On 25 March 2019 in Paris, during the state visit of China’s President Xi Jinping to Paris, Sunsea and Indigo signed a strategic partnership in the presence of Bruno Le Maire,the French Minister for the Economy and Finance,and Shan Zong, the Minister of Commerce for the People’s Republic of China. This partnership took shape with the creation of a joint venture concluded on 16 September in Nanning, China. Serge Clémente, President of the Indigo Group, and Yan Liang, CEO and founder of Sunsea, discuss this alliance and present their visions of the future.

TELL US ABOUT HOW YOU MET AND THE FOUNDATIONS OF YOUR PARTNERSHIP?

YANLIANG:The Chinese market is in rapid expansion and its needs are exponential.Over the last ten years, the number of car owners has increased by more than 10% every year. In 2020, China will overtake the UnitedStates to become the leading country in terms of vehicle ownership. In the face of this growingurbanisation, parking has become a major concern for most Chinese cities. As things stand today, supply is simply not developed enough and we hope to bring cities efficient solutions to face these challenges. It wasessential to fi nd a partner who could share their international expertise, invest by our sides and support us in the long term. Our meeting and convergence with Indigo came about quite naturally. We spoke about our shared passion for new technology and our common vision of how operations should be made morereliable through the use of technology, bringing together the human and the technical. It was clear that we had found the right partnership.

SERGE CLÉMENTE:As part of our international expansion strategy, Indigo has had a keen interest in China for a number of years. With180 cities home to over one million inhabitants, China is an immense and exciting market, larger than any other in the world, facing colossal challenges related to mobility and parking. Every year, no less than 20 million people join China’s cities. The urbanisation rate, which stood at 45% in 2010, will have reached 75% by 2050. This represents an immense challenge for local authorities! Thanks to our group’s international expertise and our presence in three continents, we were confi dent that we could bring new solutions to China, but we did not want to embark on this adventure alone. It was vital for us to find the right company and a complementary partner who could support us with their local expertise and in-depth knowledge of the Chinese market. After meeting with many different players, it became clear that Sunsea was the ideal partner, a leader in the private market for parking in China, with a clear ability to innovate and a long-term vision of our industries. Our ambitions quickly converged. This alliance will make it possible to significantly accelerate the development of parking and mobility in China, to meet the needs of local authorities and the challenges they face to prepare for the cities of tomorrow.

COULD YOU TELL US A LITTLE ABOUT YOUR GROUPS AND THEIR BACKGROUNDS?

YANLIANG:Sunsea was founded in Beijing in 2006 and quickly became an unquestionable leader in the Chinese market. The company manages 500,000 spaces primarily in underground private car parks in 40 cities and employs more than 2,000 staff. Sunsea is primarily owned by its founders and directors. We offer consultancy services for off- and on-street parking, with comprehensive expertise in matters ranging from fi nancing to managing construction, and car park design. Additionally, Sunsea created Tingjiandan (TJD), a leading digital platform in smart parking, with investment from companies including Ant Financial and Fosun.

SERGE CLÉMENTE:Working for over 50 years with local authorities, Indigo is a world leader in parking and individual mobility, serving the conurbations and smart cities of tomorrow. Indigo is a global player with local roots operating in four continents,with over 20,000 employees. We combine a number of sectors, including off-street parking and associated services (logistics, mobility centres, data centres, etc.), on-street management, individual mobility and digital with the MaaS programme (Mobility as a Service). Operating in 11 countries and leaders in our industry throughout the world,we develop tailor-made solutions, in all segments of public (cities and local authorities) and private (airports, hospitals, shopping centers, train stations, events and leisure spaces, universities, etc.) clients. Indigo’s unique strength lies in its close relationship with its territories. We are true partners to cities, innovating and listening carefully to the needs of both customers and upstream clients.

WHAT SOLUTIONS DO YOU BRING TO CITIES TODAY AND WHAT ARE YOUR SHARED AMBITIONS?

YANLIANG:We hope to invest jointly and sustainably in the Chinese parking market in order to offer cities and their inhabitants long-lasting solutions. To do this, we will develop public and private partnerships that are essential to the success of projects, rolling out the on-street smart parking offer with exemplary management throughout the operational chain, and building on existing infrastructure to create new infrastructure and meet needs. China’s smart cities of tomorrow will also develop in the areas beneath the city, which we will be able to reinvent to the benefi t of towns and their inhabitants.

SERGE CLÉMENTE:Our joint venture offers innovative and technology-based on- and off-street parking services to enable cities to better manage urban traffic and its citizens’ mobility needs whilst increasing the appeal of city centres. We are focusing primarily on these markets, establishing long-term contracts with stakeholders in the public sector and drawing on the local expertise, innovation and international experience brought by both Sunsea and Indigo. Ourjoint venture will invest signifi cantly in the development of the parking and mobility solutions of the future,designed to accommodate new types of vehicle, such as electric and hybrid cars, hydrogen and even autonomous vehicles. We have very ambitious goals for China, and more generally south-east Asia.