The objective is to transport liquefied natural gas (LNG) via road, rail, and water to areas of the country that currently lack pipelines.īoth ExxonMobil and Indian Oil Corporation are working on innovative supply-chain methods to facilitate gas access across the nation. #9 ExxonMobil and Indian Oil CorporationĮxxonMobil and Indian Oil Corporation, alongside Chart Industries, have agreed upon a joint venture to build a virtual pipeline project in India. The collaboration was viewed as a significant step in developing sustainable transportation systems. The firms agreed to invest 1.2 billion Euros over the next few years, with Daimler and Volvo Group holding a 50% stake in the initiative. In 2020, Daimler (now Mercedes-Benz) and Volvo Group signed a joint venture to design and deploy recharge stations for heavy-duty trucks and coaches. However, Apple encountered substantial obstacles in China, such as fierce competition from local smartphone manufacturers and government rules that hampered the company’s ability to completely penetrate the Chinese market. This was Apple’s official breakthrough into China’s telecommunications sector. As per the agreement, China Unicom became the exclusive carrier for the iPhone in China and agreed to purchase a certain number of iPhones from Apple over three years.
#7 Apple and UnicomĪpple and China Unicom entered into a joint venture in 2009 to bring the iPhone to China’s huge growing market. GM acquired Cruise in 2016 and has since been heavily investing in the development of self-driving technology. The partnership between Microsoft and Cruise also includes GM (or General Motors), the parent organization of Cruise. Microsoft will invest $2 billion in Cruise as part of the joint venture, and Cruise will use Microsoft’s cloud computing and AI technology to create and deploy self-driving vehicles.
Microsoft and Cruise formed a strategic partnership in January 2021 to speed up the commercialization of driverless vehicles. The joint venture was a successful partnership that helped both companies attain their business objectives. In contrast, Wilmar was able to expand its business and streams of revenue. The partnership allowed Kellogg’s to benefit from Wilmar’s extensive distribution and supply chain network in China. The former wanted to expand its cereals and other snack foods business in the Chinese market. #5 Kellogg’s and WilmarĪnother joint venture formation example is between Kellogg’s and Wilmar International Limited. In 2022, Hulu had over 48 million subscribers valued at over $25 billion.
#SAMPLE OF JOINT VENTURE AGREEMENT TV#
The aim was to provide a high-quality streaming service allowing viewers to watch TV shows, movies, and other content on computers, laptops, and mobile devices. NBC Universal Television Group (a subsidiary of Comcast) and Disney ABC Television Group (a subsidiary of The Walt Disney Company) entered into a joint venture in 2008 to create a new online video streaming platform “Hulu.” In 2012, Sony acquired Ericsson’s share in the joint venture and renamed it Sony Mobile Communications. It became one of the largest mobile phone manufacturers in the world, known for producing some of the most innovative devices, such as the Walkman. The joint venture combined Sony’s expertise in consumer electronics with Ericsson’s expertise in mobile telephony. The collaboration aimed to manufacture mobile phones and other gadgets under the brand name “Sony Ericsson.” Sony Ericsson was a joint venture between Japanese electronics conglomerate Sony Corporation and Swedish telecommunications firm Ericsson, established in 2001. Uber provided its ride-hailing services and autonomous technology expertise, while Volvo contributed its experience in automotive design and manufacturing. The joint venture aimed to develop autonomous vehicles that could be used for ride-hailing services. Hence, the ownership ratio between the two companies was 50%-50%. The two companies planned to jointly invest $300 million in the project, each contributing $150 million. Taxi giant Uber and heavy vehicle manufacturer Volvo announced a joint venture agreement to develop self-driving cars.
This partnership aimed to combine GSK’s pharmaceutical expertise with Alphabet’s advanced technologies to develop innovative treatments for various health conditions that can improve the quality of life for patients worldwide. Under the agreement, GSK will have a majority ownership of 55% in the joint venture, while Alphabet will hold a minority ownership of 45%.
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