MapmyIndia has secured a significant automotive OEM business contract from Hyundai Autoever Corporation for licensing CE Info (MapmyIndia) map and connected services contents to Hyundai Motor India and Kia India in the Indian market. The five-year contract, valued at approximately Rs 400 crore (US$ 50 million), covers map and connected services, including real-time and predictive traffic, mobile SDK, online search, and call center maps for embedded connected navigation and connected car services for Hyundai Motor Group’s two vehicle manufacturing entities in India – Hyundai Motor India and Kia India.
This deal is in response to the increasing demand for connected vehicles globally, including India, where car users are seeking enhanced ease of operation through seamless connectivity. Both Hyundai Motor India and Kia India have been at the forefront of the connectivity trend in India’s passenger vehicle market, offering their connected car technologies under the Bluelink and Uvo Connect brands, respectively.
MapmyIndia, a leading digital maps and deep-tech company in India, provides digital maps as a service (MaaS), software as a service (SaaS), and platform as a service (PaaS) to automotive OEMs, tech companies, businesses, government organizations, developers, and consumers. The company recently announced strong financial results, achieving over Rs 100 crore in quarterly income for the first time in Q3 FY2024, showcasing robust growth in various segments of its business.