Siemens Intelligent Traffic Systems has changed its name to Yunex Traffic and has said it will focus on opportunities provided by automation and digitalisation.
The new brand is emphasising the importance of technologies such as cloud computing, 5G and artificial intelligence, is led by CEO Markus Schlitt and CFO Jan Villwock.
A Siemens Mobility company, it will embrace adaptive traffic control and management, highway and tunnel automation as well as Vehicle to Everything technology and road user charging.
Yunex has a turnover of €600m and "will operate with a clear business focus and entrepreneurial freedom, where it can pursue its own growth strategy, build strategic partnerships, shape digitalisation in its industry and actively drive market consolidation".
Michael Peter, CEO of Siemens Mobility, called it a "significant milestone".
"In today’s fast-changing world, companies must always be able and willing to adapt quickly and effectively to new trends, customer preferences and changing competitive market conditions, and that’s exactly what we are doing here."
He added that Yunex will be "better positioned to strategically pursue new opportunities, actively shape the market, and secure the investments that will enable the business to grow".
“Rapid population growth is straining the transportation systems and road networks of major cities around the world, and increasing levels of congestion, delays, and air pollution are leading to a decline in quality of life," said Schlitt.
"With digitalisation and the use of disruptive technologies, Yunex Traffic will actively shape the ‘what’s next in traffic’ movement by enabling city and mobility operators worldwide to intelligently optimise and integrate traffic management."
"This will not only result in the greater availability and reliability of mobility, but the reduced emissions will contribute to cleaner and more livable cities,” he concludes.
Yunex is active in over 40 countries worldwide, with its mobility solutions used in cities including Dubai, London, Berlin, Bogota and Miami.