Pointer Telocation Limited - a leading developer, manufacturer and operator of Mobile Resource Management (MRM) and Pricol Limited, a leading manufacturer of automotive components for the global automotive market announced that they intend to enter into a joint venture to provide advanced telematics and IoT solutions in India and other countries in South East Asia.

By way of background, under India's Ministry of Road Transport and Highway's (MoRTH) AIS 140 standard for Intelligent Transport Systems, Vehicle Tracking Systems will become a mandatory feature for all public transport vehicles and commercial vehicles requiring national permit beginning January 2019. This Joint Venture will further enable Pointer and Pricol to be the leaders in the Indian telematics market.

Through the joint venture, Pointer and Pricol will provide a variety of telematics solutions to the customers for both the OEM and the aftermarket segments. Pricol will bring its robust manufacturing capabilities as well as strong sales and distribution network in OEM and aftermarket segment. The pointer will provide its capabilities in the design and development of telematics solutions, and its strong sales network telematics service providers, system integrators and mobile operators. The pointer will control 51 % interest and Pricol will control 49% interest in this proposed joint venture.