Date: October 4, 2023. – Accord has unveiled its plan to supply over 5 million NavIC (Navigation with Indian Constellation) chips to the automotive sector in next three years. Government of India has mandated NavIC-based vehicle tracking system in all commercial vehicles. It is also expected that cellphones too will be required to have NavIC chipsets in addition to other Global Navigational Satellite System like GPS, GLONASS, BeiDou, and Galileo.
Accord believes that NavIC’s capabilities will not only elevate the driving experience but will also contribute to the advancement of autonomous and connected vehicle technologies.
NavIC offers advantages such as improved accuracy, particularly in urban areas, canyons and areas with dense foliage.
Accord sees revenue opportunities through supply of NaVIC-powered chipsets to automotive, logistics, aviation, drones and railways.
Murali Krishna, CEO, Accord Software and Systems in a statement to Financial Express, highlighted the government’s push to mandate NavIC-powered tracking systems in commercial vehicles as a significant driver for chipset demand.
ISRO is planning to expand NavIC’s coverage to 3,000 km beyond India’s border.