Mitsubishi Partners Israeli Otonomo to Provide Connected Car Services
The automotive industry is working hard to welcome connected car services in 2020. The US and Europe are heading towards the market of in-vehicle connected services much faster than Japan. With the announcement of Mitsubishi Motors’ partnership with Israeli start up Otonomo, it seems like Japan is catching up in the race.
Reports claim that Mitsubishi Motors has signed on Otonomo’s car-data marketplace. With this tie up, the former will get access to a network of nearly 100 retailers, insurers and others who will pay for the data and supply services like parking apps, on-demand car washing and subscription-based refuelling, which will aid in revenue generation.
The company said that the initiative will roll out initially in the US and Europe and later in Japan. The financial terms of the deal have been kept hidden so far. As per consultancy SBD Automotive, Japan has lagged in providing connected-car services. Only 30 percent of the vehicles sold in 2019 were equipped with embedded connectivity. The US and Europe, on the other hand, delivered more than half. As per McKinsey & Co, the market for in-vehicle data will boost to as much as US$750 billion by 2030.
Other Japanese manufacturers in the automotive industry are focusing on setting up their own platforms. For instance, Toyota’s subscription based service: T- Connect can provide stuff like real-time traffic information and link to a human operator for easy restaurant booking or getting assistance in case of some accident.
Likewise, Honda has developed Honda Connected and collaborated with Alibaba in China to create connected services specific to the market needs. Otonomo, instead gives a way to standardise the data coming out of the connected car and ensures its usage adheres to the privacy laws of each region.
According to Crunchbase, Otonomo operates in the US, Europe and Japan. In total, the company has raised $53 million in funding to date. Otonomo has always been looking forward to incorporate new things into its functioning that can help it improve its business and customer base.
In January 2019, the start-up partnered with Daimler AG on a new Neutral Server initiative giving Mercedes-Benz connected car customers access to digital services. The company partnered with Avis Budget Group in August 2019 to gain deep knowledge from its diverse range of models, makers and telematics technologies.
In recent news, Otonomo has announced plans to partner with driver safety specialist GreenRoad for enabling the provision of Driver Risk Profiling to its customer base all over the worldwide. With this initiative, fleets will be able to use GreenRoad to help drivers improve their driving behaviour, cut costs and save lives.
Petrofac Bags Big Gas Projects: Will it Help UAE Achieve Self-Sufficiency?
A key member of the Organisation of the Petroleum Exporting Countries, the UAE is working towards achieving gas self-sufficiency and becoming a net gas exporter. Supporting this initiative of the country, oilfield services provider – Petrofac has bagged two contracts worth $1.65 billion from the…
Alibaba Group: Surge in Quarterly Profits Amid Coronavirus Outbreak
Post reporting a 58% increase in quarterly profits ended December 31, the Executive Chairman and Chief Executive of Alibaba Group – Daniel Zhang Yong is sceptical about the negative impact of the coronavirus outbreak on the global economy. The revenue hike is because of the…