Nexpa and Bosch to Charge Into Connected Mobility Future With Automated Valet Parking Solution MoU

NEXPA has gained a strong partner for the further advancement in smart parking technology. The smart parking solution provider signed a memorandum of understanding for a strategic cooperation with the German technology and services provider Bosch.

“We are focused on commercializing Bosch’s Automated Valet Parking combined with NEXPA’s smart parking system, backed by intensive joint study delving into the connected mobility space,” explained Jay Yu, Executive Vice President of NEXPA, adding: “Our aim is to improve parking experience and optimize operational efficiencies to create intelligent parking hubs.”

Automated Valet Parking allows optimization of parking spaces while reducing CO2 emission by realizing driverless parking through existing hardware and low-cost infrastructure. NEXPA’s AI-enabled, state of the art IP cameras will play a vital role in the connectivity and security aspects of the driverless parking solution from the partnership.

With a market trend of transforming under-utilized parking spaces into neighborhood hub serving various services such as last-mile delivery and shared mobility, people and vehicles are connected
more than ever. NEXPA envisions accelerated transformation of the parking spaces into value-added and tech enabled assets hosting next generation services.

NEXPA designs and manufactures PARCS and VPGS hardware using proprietary engineering
techniques, as well as robust and integrated software to round out the comprehensive smart parking solution offerings.

About NEXPA System

NEXPA System Co., Ltd. is a leading provider of video analytics technology, specializing in smart parking and traffic law enforcement solutions. Founded in February 2004 in Seoul, South Korea, in the early years, NEXPA was focused on developing new technologies. With over 50 patents, we entered the market to propose technology-driven solutions to our customers, and since then huge progress has followed. Now, we have the greatest number of references for large-sized projects such as airports and shopping centers while still adding global projects to our successful references