Taisys Invests USD 7.2 Million in ATrack Technology Inc to Boost Automotive Intelligence in India
Taiwan-based Taisys has announced a strategic investment of USD 7.2 million in ATrack Technology Inc, a leading player in the Automotive Intelligence industry, listed on the Taipei Exchange (TPEX:6465). This investment, made through private placement, underscores Taisys' commitment to enhancing automotive technology in India.
Established in 2010 and publicly listed in 2015, ATrack specializes in the development, manufacturing, and global solutions for Automotive Intelligence. The investment signifies ATrack's dedication to introducing cutting-edge technology to the Indian Automobile Industry, leveraging Taisys' strong market presence and distribution network in India.
ATrack's expertise lies in AI dashcams, ADAS (Advanced Driver Assistance Systems), DMS (Driver Monitoring Systems), LEO satellites for satellite-based tracking, and sensors, with a focus on Advanced Navigation technology.
Taisys aims to bolster local manufacturing in India for semiconductor design platforms and AI dashcams in partnership with global hardware manufacturers. By establishing manufacturing units in India, the collaboration aims to not only cater to the local market but also tap into India's burgeoning ecosystem for global supply chains.
Jason Ho, Chairman of Taisys Technologies, expressed, "This investment aligns with our vision to introduce the best global technologies to India. ATrack's innovative approach and proven track record perfectly complement our growth strategy".
Abhishek Saxena, Managing Director of Taisys India, commented, "We are excited to collaborate with ATrack's technological prowess to capitalize on the emerging wave of Automotive intelligence in India. This presents a unique opportunity for India to lead in the field with groundbreaking automotive technology like AI dashcams, in line with the Make in India initiative".
This strategic investment underscores the commitment of Taisys and ATrack to drive innovation in the automotive sector in India, facilitating the adoption of advanced technologies that promise to revolutionize automotive intelligence and contribute to India's journey towards becoming a global hub for automotive innovation.
