With intensive research and field operational tests over the intelligent transportation area and the advancements of information and communication technologies, intelligent transportation systems reach the stage of deployment. EU focuses on cooperative intelligent transportation systems and confirms the finalization of the first release of the standards, paving the way for deployment in the coming years. This paper presents the concept of EU's cooperative intelligent transportation systems and describes in detail the functional architecture, together with highlights of related standardsthat have been finalized in Release 1. Latest updates of the cooperative intelligent transportation systems are provided for both industry and academia, aiming at helping to accelerate cooperative mobility.