Hyderabad-based Goldstone Technologies Limited (GTL) on Wednesday announced forming a joint venture with German electric mobility firm Quantron in the fleet management space.
The joint venture, which will be headquartered in Augsburg (Germany) and will have operations from Hyderabad, seeks to address the high potential fleet management market, GTL said in a statement.
The JV plans to set up a US entity by the third quarter of the current year, capitalising on the burgeoning global electric mobility market and hydrogen economy. By focusing on zero-emission transport, it aims to offer OEM-agnostic Mobility as a Service (MaaS) solutions, addressing efficiency and digitalisation challenges, GTL said.
"We are looking forward to this partnership with GTL in a bid to address the fleet management markets which is projected to exceed USD 70 billion by 2032, combined with the hydrogen economy markets that anticipates over USD 320 billion in global investments by 2030," Michael Perschke, member of the Board and Chief Executive Officer at Quantron AG, said.
The JV is already poised to revolutionise fleet management with its AI-supported solutions for sustainable integrated operations, catering to the demand in Europe, the USA, India, and the Middle East, according to the statement.
"The Indian ecosystem also presents a huge opportunity in this area, which would provide us the necessary expertise to make inroads into the global marketplace," Perschke said. The key differentiator, according to GTL, would be one integrated platform across five digital pillars -- fleet management, insurance-as-a-service, hydrogen economy, Greenhouse Gas Accounting and Data Insights.
Having already on boarded Quantron and ETO Motors as clients, GTL said, it will provide the software expertise and oversee platform integration, while Quantron will utilise the digital platform in its 360-degree ecosystem. "The factors that distinguish this digital platform are that it is partner agnostic, modular and OEM Independent," Pavan Chavali, Managing Director at GTL, said.
Data Insights, which is a crucial pillar, is estimated to reach a global market value of USD 71 billion (about Rs 5.9 lakh crore) by 2032, he emphasised.
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