Cohda Wireless is an Australian company that specializes in car-to-car communication to further the production of Intelligent Transport systems. It makes sense for a networking company and a semiconductor business to invest in this technology.
Cisco and NXP believe that we could benefit from this technology. They could wirelessly exchange information that could tell your vehicle to slow down or speed up to avoid collisions. If they implemented this technology in traffic lights the car would be able to communicate and find out what to do depending on the status of the light.
The car to light is known as car-to-infrastructure. They are working on technology that will allow your car to communicate with just about anything that it will come into contact with. These technologies will not just appear overnight either, they have been a long-time coming and are not complete yet.
There are many people out there attempting to create the best ITS, however it would seem that Cisco, a very large networking company, and NXP a large circuit board manufacturer both found Cohda Wireless to be the best ITS out there yet.