Minda Corporation Limited, the flagship company of Spark Minda group has announced the Technology License Agreement (TLA) with LocoNav for white-labelling of Telematics Software for both Web & Android/iOS platforms on November 21, 2022.

Spark Minda will integrate LocoNav developed software with its inhouse developed telematic devices to provide OEMs with a complete solution. This exclusive collaboration will enable Spark Minda to be ahead of technology curve with customised solutions to suit Indian OEM’s.

As part of the alliance, LocoNav will be the technology partner for telematic systems to Spark Minda and shall provide with white labelled software. LocoNav would also assist Spark Minda in software customizations and other support from time to time and provide mobile application user interface.

Commenting on the TLA, Aakash Minda, Executive Director – Minda Corporation said, Connectivity of vehicles is one of the major trends in the automotive industry and a complete telematics solution lies at the heart of this mega trend. We at Spark Minda have taken a step forward to provide Indian OEMs with locally developed telematics solutions (using locally made hardware and software), which would ensure 24*7 connectivity of the vehicles.

We believe the partnership with LocoNav will help us strengthen our existing relationship with the leading OEMs by integrating LocoNav’s proprietary telematics software into Spark Minda devices making us “a complete mobility solution provider”. This will also help us expand our product portfolio with existing customers and acquire new customers.”

On Wednesday early morning trade, Minda Corporation Ltd is currently trading at Rs205.90 per share down by Rs0.1 or 0.05% from its previous closing of Rs206 per share on the BSE.