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China's Hisense may bid $1bn for Siemens intelligent traffic unit

Potential purchase is in line with company's interest in smart transport

Qingdao-based Hisense is a leading home appliance maker in China specializing in TVs, air conditioners and refrigerators. (Photo by Kaisuke Ohta) 

Chinese home appliance maker Hisense Group is considering buying the intelligent traffic business of German giant Siemens for about $1 billion, people familiar with the matter told Caixin.

Qingdao-based Hisense intends to participate in bidding for Yunex Traffic, the intelligent traffic system unit of Siemens, though no agreement has been reached, the sources said. Siemens and Hisense did not comment.

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