One of the latest entrants in the Indian automotive space, SAIC Motors owned British-Marquee brand MG Motor India, has announced its commitment to innovation in the auto-technology space. The company today announced its partnership with leading connectivity management platform Cisco IoT and Unlimit - a specialist IoT services provider, to develop connected mobility enabled vehicles.
MG Motor India betting big on the connected mobility market, 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 $3 billion (Rs 20,970 crore) by 2020 in India. At present, only 2 percent of the cars in India are considered as connected cars. The demand for connected car services is expected to grow exponentially in India and will mirror the global growth trends.
Globally, the size of the connected mobility market is projected to grow to $175 billion (Rs 1,223,250 crore) by 2020, as against $44 billion (Rs 307,560 crore) in 2015, according to the report.
Speaking at the announcement Rajeev Chaba, president and MD, MG Motor India, said “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. The partnership with both tech giants involves incorporating tracking, security and navigation amongst many other features in our vehicles, with an aim to offer a differentiated customer experience in India."
Alok Srivastava, regional MD, South East Asia, Cisco IoT, said, “Cars of the future would not be seen just as a product but a platform, through which various services can be offered. A vehicle that is constantly connected offers a myriad of opportunities. It gives us great pleasure to associate with an iconic name such as MG Motor to accelerate the connected automobile revolution collectively.”
Juergen Hase, CEO, Unlimit, 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 start-ups to develop domain specific applications and services that will enhance customer experience.”