ITURAN'S JV IN INDIA COMPLETES SUCCESSFUL VALIDATION WITH DAIMLER INDIA COMMERCIAL VEHICLES FOR ITS CONNECTED TELEMATIC DEVICES
Ituran Location and Control (ITRN) announced that its Indian joint venture, Lumax Ituran Telematics, has successfully completed validation of its connected telematic devices with Daimler India Commercial Vehicles (DICV). The testing involved approximately 15,000+ vehicles operating in India, and Lumax-Ituran expects to continue selling tens of thousands of connected devices to DICV annually.
The devices will provide essential hardware for advanced telematics solutions, enabling future expansion into connected vehicle services. This partnership with DICV, a major global OEM, represents a significant milestone in Ituran's strategic expansion into India's automotive telematics sector.
Ituran Location and Control (ITRN) ha annunciato che la sua joint venture indiana, Lumax Ituran Telematics, ha completato con successo la validazione dei suoi dispositivi telematici connessi presso Daimler India Commercial Vehicles (DICV). Il collaudo ha coinvolto circa 15.000 veicoli operativi in India, e Lumax-Ituran prevede di continuare a vendere decine di migliaia di dispositivi connessi a DICV ogni anno.
I dispositivi forniranno hardware essenziale per soluzioni telematiche avanzate, consentendo future espansioni nei servizi per veicoli connessi. Questa collaborazione con DICV, un importante produttore globale, rappresenta un traguardo significativo nell'espansione strategica di Ituran nel settore telematico automobilistico indiano.
Ituran Location and Control (ITRN) anunció que su empresa conjunta en India, Lumax Ituran Telematics, ha completado con éxito la validación de sus dispositivos telemáticos conectados con Daimler India Commercial Vehicles (DICV). Las pruebas involucraron aproximadamente 15.000 vehículos en funcionamiento en India, y Lumax-Ituran espera continuar vendiendo decenas de miles de dispositivos conectados a DICV anualmente.
Los dispositivos proporcionarán hardware esencial para soluciones telemáticas avanzadas, lo que permitirá una futura expansión en los servicios de vehículos conectados. Esta asociación con DICV, un importante fabricante global, representa un hito significativo en la expansión estratégica de Ituran en el sector de telemática automotriz de India.
Ituran Location and Control (ITRN)은 인도의 합작회사인 Lumax Ituran Telematics가 Daimler India Commercial Vehicles (DICV)와 함께 연결된 텔레매틱 장치의 검증을 성공적으로 완료했다고 발표했습니다. 이 테스트는 인도에서 15,000대 이상의 차량을 대상으로 하였으며, Lumax-Ituran은 매년 DICV에 수만 개의 연결 장치를 계속 판매할 것으로 기대하고 있습니다.
이 장치는 고급 텔레매틱 솔루션을 위한 필수 하드웨어를 제공하며, 향후 연결된 차량 서비스로의 확장을 가능하게 합니다. DICV와의 이 파트너십은 인도의 자동차 텔레매틱스 분야에 대한 Ituran의 전략적 확장에서 중요한 이정표를 나타냅니다.
Ituran Location and Control (ITRN) a annoncé que sa coentreprise indienne, Lumax Ituran Telematics, a réussi à valider ses dispositifs télématiques connectés avec Daimler India Commercial Vehicles (DICV). Les tests ont impliqué environ 15 000 véhicules opérant en Inde, et Lumax-Ituran s'attend à continuer à vendre des dizaines de milliers de dispositifs connectés à DICV chaque année.
Ces dispositifs fourniront un matériel essentiel pour des solutions télématiques avancées, permettant une future expansion dans les services de véhicules connectés. Ce partenariat avec DICV, un grand équipementier mondial, représente une étape importante dans l'expansion stratégique d'Ituran dans le secteur de la télématique automobile en Inde.
Ituran Location and Control (ITRN) gab bekannt, dass sein indisches Joint Venture Lumax Ituran Telematics erfolgreich die Validierung seiner verbundenen Telematikgeräte mit Daimler India Commercial Vehicles (DICV) abgeschlossen hat. Die Tests umfassten rund 15.000 Fahrzeuge, die in Indien betrieben werden, und Lumax-Ituran erwartet, jährlich Zehntausende von verbundenen Geräten an DICV zu verkaufen.
Die Geräte werden essentielle Hardware für fortschrittliche Telematiklösungen bereitstellen, was eine zukünftige Expansion in die Dienste für vernetzte Fahrzeuge ermöglicht. Diese Partnerschaft mit DICV, einem bedeutenden globalen OEM, stellt einen wichtigen Meilenstein im strategischen Expansion von Ituran im indischen Automobil-Telematik-Sektor dar.
- Successful validation of telematic devices with major OEM Daimler India
- Potential annual sales of tens of thousands of connected devices to DICV
- Initial deployment across 15,000+ vehicles in India
- Strategic expansion into India's growing automotive market
- None.
Insights
The successful validation with Daimler India Commercial Vehicles represents a significant technological and market advancement for Ituran. The scale of testing, involving 15,000+ vehicles, demonstrates robust product reliability and market readiness. The connected telematic devices will serve as the foundation for advanced vehicle monitoring and data analytics capabilities in commercial vehicles.
India's commercial vehicle telematics market presents substantial growth potential, driven by fleet management needs and increasing demand for vehicle connectivity. DICV's commitment to integrate Ituran's technology across their fleet indicates strong product-market fit and potential for recurring revenue through device sales and future connected services. The validation success positions Ituran to capture a larger share of India's rapidly growing automotive IoT market.
This development significantly strengthens Ituran's market position in India's automotive sector. The partnership with DICV, a subsidiary of Daimler Trucks, provides a stable revenue stream through expected annual sales of tens of thousands of devices. The Indian commercial vehicle market is experiencing robust growth and this validation opens doors for expansion into connected vehicle services, representing multiple revenue streams.
The joint venture with Lumax, a well-established Indian auto component manufacturer, provides Ituran with local market expertise and manufacturing capabilities. This strategic positioning could lead to additional OEM partnerships in the region, as automotive manufacturers increasingly prioritize connected vehicle technologies.
AZOUR,
DICV fully tested Ituran's devices across approximately 15,000 plus vehicles operating in
The expansion of operations with DICV, a part of the key leading global OEM, marks a key milestone for Ituran's strategic expansion into
Eyal Sheratzky, CEO of Ituran, commented, "Daimler India Commercial Vehicles is a key strategic customer for our growing
About Lumax Ituran
Lumax Ituran Telematics Pvt Ltd., a
About Ituran
Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance, financing industries and car manufacturers. Ituran is the largest OEM telematics provider in
Ituran's subscriber base has been growing significantly since the Company's inception to over 2.3 million subscribers using its location-based services with a market leading position in
For more information, please visit Ituran's website, at: www.ituran.com
Company Contact Udi Mizrahi udi_m@ituran.com Deputy CEO and VP Finance, Ituran ( | International Investor Relations Ehud Helft ituran@ekgir.com EK Global Investor Relations (US) +1 212 378 8040 |
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SOURCE Ituran Location and Control Ltd.
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