Hyundai AutoEver, the IT affiliate of Hyundai Motor Group, has joined forces with India’s MapmyIndia. The strategic partnership aims to establish a joint venture named Terra Link Technologies. This venture is set to develop high-quality automotive navigation maps for Southeast Asia, a region experiencing rapid economic growth and a sharp rise in vehicle demand.
The joint venture will focus on developing navigation maps for countries including Indonesia, Thailand, Vietnam, the Philippines, Malaysia, and Singapore. The need for such a venture is underscored by the unique road environments in Southeast Asia, which vary significantly by country, with differences in driving directions and road markings.
Seo Dong-kwon, head of the navigation business division at Hyundai AutoEver, emphasized the venture’s commitment to delivering a differentiated experience to consumers. We aim to build high-quality automotive maps to support global automakers in enhancing their competitiveness in the field of navigation, he said.
MapmyIndia, a leading player in India’s deep-tech digital map data, geospatial software, and location-based IoT products, brings its expertise in offering proprietary digital maps as a service, software as a service, and platform as a service to the table. However, the company has been in the news recently for a different reason.
Rohan Verma, CEO and Executive Director of MapmyIndia, announced his decision to step down to launch his own consumer business. Rakesh Verma, Co-founder and CMD, MapmyIndia, confirmed this development, stating, To fulfil his long cherished desire to build a consumer business, Rohan Verma proposed to the board to fund a new venture outside the company.
Despite this change in leadership, MapmyIndia reported a 13.82 per cent year-on-year jump in revenue from operations to Rs 103.67 crore in Q2 FY25. However, the company also registered an 8.2 per cent drop in consolidated net profit to ₹30.33 crore in Q2 FY25, compared to Rs. 33.04 crore in Q2 FY24.
In a related development, MapmyIndia has also partnered with Zoomcar to revolutionize road trips and travel with AI-powered integration. This collaboration aims to redefine how people explore the world, offering users the tools and flexibility to plan their perfect journeys. Hiroshi Nishijima, CEO of Zoomcar, expressed his excitement about the partnership, stating, We’re committed to making every trip seamless and enjoyable with Mappls.
In another strategic move, MapmyIndia launched ClarityX, a company wholly focused on data analytics. ClarityX leverages AI and Human Intelligence in a bespoke and consultative manner to offer tailor-made actionable insights to enterprise customers across all industries.
The establishment of Terra Link Technologies is reminiscent of similar ventures in the past where technology and automotive industries have collaborated to leverage the power of digital transformation. For instance, in 2015, Toyota and Microsoft formed a partnership to create a world-class connected car ecosystem to help realize Toyota’s vision of a Smart Mobility Society.
