Pointer Telocation and Pricol Limited have announced that they intend to enter into a joint venture to provide advanced telematics and IoT solutions in India and other countries in South East Asia.
Pricol Limited is an automotive components and precision engineered products manufacturer based in Coimbatore, India, while Pointer Telocation, headquartered in Israel, develops automatic vehicle location solutions and provides roadside automotive service.
The companies aim to take advantage of AIS 140 standard for Intelligent Transport Systems under India’s Ministry of Road Transport and Highway’s (MoRTH), that will make vehicle tracking systems a mandatory feature for all public transport vehicles and commercial vehicles requiring national
permit beginning January 2019.
This Joint Venture will further enable Pointer and Pricol to be the leaders in the Indian telematics market and will provide a variety of telematics solutions to the customers for both the OEM and the aftermarket segments.
Pricol will bring its manufacturing capabilities as well as sales and distribution network in OEM and aftermarket segment. Pointer will provide its capabilities in design and development of telematics solutions, and its sales network of telematics service providers, system integrators and mobile operators. Pointer will control 51% interest and Pricol will control 49% interest in this proposed joint venture.
Source: Press Release