Pricol stock soars 1.5% on partnership with US-based Sibros Technologies

23 Feb 2022 , 02:51 PM

Pricol Limited has entered into partnership with Sibros Technologies, Inc, California, USA (a Google and Qualcomm Ventures invested company) on February 21, 2022 for providing Telematics and Connected Vehicle Solutions to the OEMs in Indian and ASEAN Markets across all vehicle segments.

As per regulatory filing, PRICOL will develop the hardware and firmware as required by the customer. SIBROS will develop the software and provide its Saas platform for connected vehicle solutions with OTA updates as required by the customer for the technology.

PRICOL and SIBROS shall in consultation jointly decide the customer requirements and specifications to deplm end-to-end solutions.

The agreement shall be valid for a period of 5 Years from the date of signing.

This arrangement will enable PRICOL & SIBROS to share the value of such strategic partnership to prospective customers in providing Telematics and Connected Vehicles Solutions technology to potential customers – OEMs in Indian and ASEAN Markets across – all vehicle segments.

At around 2:52 PM, Pricol was trading at Rs119.70 per piece higher by 1.57% on Sensex.