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Wejo Announces Data Agreement with Toyota Motor North America
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Wejo, a leader in connected vehicle data solutions, announced a partnership with Toyota Motor North America to provide personalized data services for fleet vehicles in the U.S.
This agreement marks a significant move towards capturing the projected $61 billion connected vehicle data market by 2030.
The Wejo ADEPT platform will process data from Toyota's fleet vehicles, enhancing telematics and fleet management insights, ultimately improving operations and driver safety.
Positive
Partnership with Toyota enables direct access to vehicle data without aftermarket hardware.
Projected to capture a significant share of the $61 billion connected vehicle data market by 2030.
Enhanced data-driven insights for fleet management will improve safety and operational efficiencies.
Negative
None.
The agreement will allow Wejo to provide connected vehicle data services for participating Toyota fleet vehicles in the U.S.
MANCHESTER, England--(BUSINESS WIRE)--
Wejo Group Limited (NASDAQ: WEJO), a global leader in Smart Mobility for Good™ cloud and software solutions for connected, electric and autonomous vehicle data, today announced a data agreement with Toyota Motor North America. The agreement will allow Wejo to provide personalized connected vehicle data services for participating cloud-connected fleet vehicles in the U.S. It represents an important step towards Wejo’s capture of the estimated $61 billion by 2030 service addressable connected vehicle data market. The data Wejo receives will be derived from participating Toyota fleet vehicles and processed and anonymized through Wejo’s ADEPT platform. The data can then be leveraged by telematics service providers (TSPs), fleet owners and fleet management service (FMS) companies interested in utilizing data from embedded OEM hardware to support fleet services instead of more unreliable aftermarket hardware.
The Wejo data from Toyota’s participating connected fleet vehicles can empower TSPs and FMS companies with the insights needed to inform operations, including geographic locations, fuel insights, odometer and speed readings, and tire pressure. Additionally, Wejo will have access to driver behavior information from these participating Toyota fleet vehicles that includes the necessary data to promote safe driving. By leveraging driver performance, Wejo’s customers will be able to identify opportunities for improvement and training, ultimately allowing fleet owners peace of mind, knowing that they are leveraging data for the good of their fleets and drivers while protecting their investments and reducing exposure to liability.
“Enabling Wejo to deliver TSPs and FMS companies with data-driven enhanced fleet management insights for their fleet customers will help improve safety and drive efficiencies on the roadways,” said Josh Batie, general manager of Toyota Connected Technologies. “Our partnership with Wejo allows us to expand how and where we’re offering our data while keeping the control in the hands of our customers.”
In addition to traditional fleet management offerings, participating Toyota fleet vehicle owners will get their data directly from their vehicles without the need for additional aftermarket hardware or data plans. However, Toyota fleet-connected vehicle data is shared only at the express request and direction of Toyota customers that have expressly agreed to such sharing with Wejo. Additionally, Wejo ADEPT delivers the highest standards in keeping consumers’ data safe.
“Smart mobility for good is at the core of everything we do at Wejo, and our partnership with Toyota is a continued example of this mission,” commented Benoit Joly, chief commercial officer at Wejo. “Enabling TSPs, fleet owners, and FMS with the data and insights necessary to keep their drivers safe on the road while driving efficiencies across fleets is a prime example of how smart mobility can deliver benefits for business and society.”
About Wejo
Wejo Group Limited is a global leader in cloud and software analytics for connected, electric, and autonomous mobility, revolutionizing the way we live, work and travel by transforming and interpreting historic and real-time vehicle data. The Company enables smarter mobility by organizing trillions of data points from 20.8 million vehicles, of which 13.9 million were active on the platform transmitting data in near real-time, and over 94.6 billion journeys globally as of December 31, 2022, across multiple brands, makes and models, and then standardizing and enhancing those streams of data on a vast scale. Wejo partners with ethical, like-minded companies and organizations to turn that data into insights that unlock value for consumers. With the most comprehensive and trusted data, information, and intelligence, Wejo is creating a smarter, safer, more sustainable world for all. Founded in 2014, Wejo has offices in Manchester, UK and in regions where Wejo does business around the world. For more information, visit www.wejo.com or connect with us on LinkedIn, Twitter, and Instagram.
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. For more information, please follow this link: https://www.wejo.com/forward-looking-statements
What is the recent partnership between Wejo and Toyota?
Wejo has entered into a partnership with Toyota Motor North America to provide connected vehicle data services for fleet vehicles in the U.S.
What market is Wejo targeting with its new data agreement?
Wejo is targeting the connected vehicle data market, projected to reach $61 billion by 2030.
How will Wejo use the data from Toyota's fleet vehicles?
Wejo will process and anonymize data from Toyota's fleet vehicles using the ADEPT platform, providing insights for telematics service providers and fleet management.
What benefits does the agreement provide for fleet vehicle owners?
Fleet vehicle owners can access their data directly from their vehicles, enhancing safety and operational efficiency without needing additional hardware.
What safety improvements are expected from the Wejo and Toyota partnership?
The partnership aims to enhance driver safety by providing insights into driver behavior and operational efficiencies.
