MG Motor India, a wholly-owned arm of China's SAIC Motor Corp, Thursday tied up with connectivity management platform Cisco IoT and UNLIMIT - a specialist IoT services provider - to develop vehicles with connected mobility features.
The company, which is all set to drive-in its first product a premium SUV in the next few months, also released a white-paper on 'Connected Mobility - Growing Possibilities in India' in association with management consulting firm Arthur D Little.
According to the report, the value of the connected mobility market could reach the size of USD 3 billion by 2020 in India. Currently, only 2 per cent of cars in the country are considered connected cars.
As per the report, the demand for connected car services is expected to grow exponentially in India and mirror the global growth trends. Globally, the size of the connected mobility market is projected to grow to USD 175 billion by 2020, as against USD 44 billion in 2015.
"With the automobile industry going through a major transformation, MG India aims to take the lead in connected mobility and establish the connected vehicle ecosystem in India," MG Motor India President and MD Rajeev Chaba said in a statement.
The partnership with both tech giants involves incorporating tracking, security and navigation amongst many other features in MG Motor India vehicles, with an aim to offer a differentiated customer experience in the country, he added.
"A vehicle that is constantly connected offers a myriad of opportunities," he added.
Similarly, UNLIMIT CEO Juergen Hase said the consumer demand for connected mobility enabled vehicles in India has strong potential and is expected to mirror global growth trends, thereby also opening vast avenues for startups to develop domain specific applications and services that will enhance customer experience.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)