In a landmark move, Hyundai and Kia have steered their way into a major deal with CE Info Systems, more commonly known as MapmyIndia, purchasing a license worth a staggering INR 400 crores (approximately USD 50 million). This announcement, which aligns with the guidelines of Regulation 30 of the SEBI (LODR) Regulations, 2015, marks a significant milestone for the automotive giants in their Indian operations.
The deal encompasses a comprehensive licensing agreement of MapmyIndia’s advanced mapping and connected services. This includes access to real-time and predictive traffic data, mobile software development kits (SDKs), online search capabilities, and call center maps. These cutting-edge technologies are set to revolutionize the embedded connected navigation and connected car services for both Hyundai and Kia’s OEM (Original Equipment Manufacturer) business in India.
This automotive OEM business contract is specifically tailored for the domestic Indian market. Hyundai and Kia, already well-established names in the Indian automotive sector, are looking to further cement their presence and offer enhanced customer experiences through this strategic partnership.
The implementation of this contract is slated to kick off with the start of production in 2024, covering the vehicle production for the next five years. This ambitious timeline underscores the commitment of Hyundai and Kia to integrate MapmyIndia’s state-of-the-art solutions into their upcoming vehicle models, ensuring that their customers have access to the latest in navigation and connected car technology.
This substantial investment by Hyundai and Kia into MapmyIndia’s services is a testament to the growing importance of advanced navigation and connected car features in the automotive industry, particularly in the burgeoning Indian market. As the world of automotive technology continues to evolve at a rapid pace, this partnership is a clear indicator of the direction in which major car manufacturers are heading, steering towards a future where connectivity and advanced navigation are integral to the driving experience.
