TAIPEI, June 12, 2024 /PRNewswire/ -- FETC International is delighted to announce that its parent company, Far Eastern Electronic Toll Collection (FETC), will extend its electronic toll collection contract with the Taiwan Freeway Bureau, MOTC, for an additional 10 years. The initial BOT agreement, scheduled to conclude in December 2025, will now be prolonged until the end of 2035. In this renewed partnership, FETC remains committed to upholding its world-class service quality and operational performance KPIs. Additionally, FETC International will maintain FETC's high standards to advance tolling technologies.

Key highlights of recent technology innovations:

AI and 5G Tolling Integration: FETC International will continue to leverage AI and 5G technologies to enhance MLFF ETC operations, from roadside to transaction validation processes. This integration will increase self-learning capabilities, boost system automation, reduce labor burdens, and improve accuracy rates. Introduction of AI Weather Prediction to O&M: FETC International has developed an AIOT Highway ETC Operation and Maintenance Decision System. This system incorporates AI predictive capabilities and early warnings of severe weather at designated tolling sites into the O&M decision-making process to safeguard lives and property. Construct Vehicle as a Service Ecosystem: FETC International now manages over 2,000 parking lots and owns near 3.5 million smart parking members in Taiwan and has established a streamlined single management platform for parking owners to monitor and track revenue for each parking lot. Additionally, this platform offers services to private entities and enterprise to manage temporary parking, monthly rental, AI rating, parking validation, billing settlement, and VIP reservation services. Customers can even schedule maintenance service or enroll in car insurance via the platform. In the near future, FETC International plans to realize its vision, Vehicle as a Service (VaaS), to create and share benefits for the whole ecosystem.  

With these advancements, FETC International is poised to lead the way in tolling technology and parking solutions. By maintaining the highest standards of service and innovation, FETC International will continue to expand its impact on the global market.

About FETC International
FETCi is the world's leading intelligent tolling service enabler and ITS service provider. With over two decades of experience in planning, implementation and operation of MLFF ETC, FETCi aims to work with partners to accelerate digital transformation towards smart highway and smart city through digital technologies.