ITURAN'S JV IN INDIA COMPLETES SUCCESSFUL VALIDATION WITH DAIMLER INDIA COMMERCIAL VEHICLES FOR ITS CONNECTED TELEMATIC DEVICES

Core Insights - Ituran Location and Control Ltd. announced the successful validation and trial of its telematic devices with Daimler India Commercial Vehicles, marking a significant milestone in its strategic expansion into India's automotive telematics sector [1][4][5] Company Overview - Ituran is a leader in mobility technology, providing location-based services including stolen vehicle recovery and fleet management, with a strong presence in Latin America and operations in over 20 countries [6][7] - The company has a growing subscriber base of over 2.3 million users, with approximately 2,800 employees globally [7] Joint Venture Details - Lumax Ituran Telematics Pvt Ltd., a joint venture between Ituran and Lumax Auto Technologies, was established in 2017 to introduce Ituran's telematics products to the Indian market [5] - The joint venture expects to sell tens of thousands of connected devices to DICV annually, which will support advanced telematics solutions and future expansion into connected vehicle services [3][5] Strategic Importance - The partnership with DICV, a key global OEM, enhances Ituran's position in the connected vehicle market and reflects the company's commitment to innovation in India's rapidly evolving automotive sector [4][5]