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Pointer Telocation and Pricol Ltd have signed a Letter of Intent to form a joint venture for telematics solutions in India and South East Asia.
Vikram Mohan, Managing Director, Pricol, said this partnership would be the one-stop provider for telematics solutions to its customers.
Coimbatore-headquartered Pricol is among the leading telematics hardware suppliers for OEMs (original equipment manufacturers) in India with an installed base of more than one-lakh vehicles.
Telematic units
Pointer Telocation, a leading developer, manufacturer and operator of mobile resource management has deployed about 1.5 lakh telematic units in the Indian market and over 3 million across the globe, said David Mahlab, its CEO, adding that this partnership would help both companies increase their foothold in the OEM segment and after market, the latter by utilising Pricol’s capabilities.
Explaining the need for such an agreement at this juncture, the Pricol Managing Director said, “Under India’s Ministry of Road Transport and Highways, AIS 140 standard for Intelligent Transport System, Vehicle Tracking Systems will become mandatory for all public transport vehicles and commercial vehicles requiring national permit from January 1, 2019. This JV will further enable the partners to the agreement to emerge as leaders in the Indian telematics market.”
Pointer will control 51 per cent interest while Pricol will have control over the remaining 49 per cent in the proposed JV, the company said in a release.
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