Minda Corporation Limited, the flagship company of Spark Minda, today announced its partnership with Israel-based Ride Vision, a leading ADAS (rider assistance systems) solutions company, to bring its range of Artificial Intelligence-enabled Collision Avoidance Technology (CAT™) products for the Indian two-wheeler market for making the Indian road more safer.
Roads in India are known to be very busy with numerous vehicle types, unique road behavior and challenging maneuverability and Ride Vision's Collision Avoidance Technology (CAT™) has been uniquely built to address these challenges, specifically for two and three wheelers. Spark Minda's nation-wide reach and strong market share will make sure the product is successfully incorporated to the unique Indian market both as integrated into new motorbikes and in the aftermarket, to help fight the two-wheeler accident and fatality statistics.
Mr Ashok Minda, Chairman and GCEO, Minda Corporation, said, "We are extremely happy to partner with Ride Vision to introduce technology that will make a difference to the life of 2-wheeler riders and will help in achieving the objective of zero road fatality set by the Union Minister of Road Transport and Highways by 2030. Spark Minda is committed to offer advanced products, technologies and solutions for increasing human safety. Going forward, we will focus on introducing new products, technologies and system solutions in Electronics, Light Weighting, Active Safety, Electric Mobility space organically and inorganically."
Mr Uri Lavi, CEO & Co-founder of Ride Vision, said, "We are excited to partner with Spark Minda, a leading Indian Tier-1 company. Motorbike riders in India will be safer on roads as through this partnership with Spark Minda, we will introduce the first localised Ride Vision's Collision Avoidance Product that fits the needs and budget of the Indian market".
The product offers multiple features including Forward Collision Alert, Distance Keeping Alert, Blind Spot Alert, Dangerous Overtake Alert, Auto Video Recording, etc which helps the rider to react in real-time to critical threats and avoid accident and injury while on the road.
Shares of Minda Corporation Ltd was last trading in BSE at Rs.100.65 as compared to the previous close of Rs. 101. The total number of shares traded during the day was 27500 in over 621 trades.
The stock hit an intraday high of Rs. 103.3 and intraday low of 100.1. The net turnover during the day was Rs. 2801083.