TATA AutoComp Systems (TACO) and MobiApps™ launch telematics joint venture

JV to provide end-to-end fleet management and vehicle tracking solutions

7 March 2005

Tata AutoComp Systems, one of the fastest growing auto components companies in India and part of the US$ 14. 2 billion Tata Group, today announced the launch of a joint venture with Singapore-based MobiApps™, the leading provider of satellite and terrestrial communication based logistics and telematics technologies.

The joint venture, TACO MobiApps Telematics Ltd (TMT) will commence operations by providing trako fleet management and vehicle tracking solutions (VTS) based on MobiApps' product platform to the OEM and retail markets. TMT will focus on exponentially enlarging the number of commercial vehicles equipped with VTS, and projects to have 250,000 units deployed by 2008.

"The launch of TMT signifies the deepening commercial ties between Singapore and India. MobiApps is an innovative technology leader in Telematics, and TACO is a fast growing company of the TATA Group which has a long tradition of business ties to Singapore. We will continue to grow Singapore as an attractive base for emerging technology companies," said Teo Ming Kian, Chairman, Economic Development Board of Singapore.

Using global positioning and mobile technologies such as GSM, GPRS, CDMA and other non-terrestrial networks, TMT will install and maintain the necessary hardware, software and web / mobile phone services to allow customers to manage their fleets and mobile assets through real-time visibility and control.

"Electronics, and vehicle telematics in particular, is a growth area in the automotive industry and the launch of TMT marks TACO's entry into this area", said D. S. Gupta, Managing Director of TACO. "Leveraging the strengths of India and our partner, MobiApps, we intend to build TMT to be a global operator, with a clear leadership position in India."

"This joint venture continues our growth strategy of being the leader in Vehicle Telematics", said Sanjay Chakrabarty, Chief Executive Officer, MobiApps™ Holdings. "The venture will build on TATA AutoComp's expertise in delivering comprehensive solutions to global automotive OEMs, and MobiApps' focused competencies in wireless and satellite communications. TMT will be able to provide value to customers through applications developed in our global technology centres."

Praveen Gupta, CEO of TMT stated, "Our market research confirms a high potential for improvement of fleet efficiencies through the use of VTS. TMT's parents have the necessary technology, automotive domain experience and resources to address this need. Our challenge is to enable even small fleets to exploit these advanced technologies and vastly improve their short term cash flows."

MobiApps™ Holdings Pvt Ltd, Singapore, is a leading provider of terrestrial and satellite communication technologies for logistics, telematics and industrial applications. Its technology platforms converge next generation satellite transceivers providing global coverage, GSM and CDMA based mobile networks, and web services for customers to deploy a broad range of applications for equipment and asset management.

MobiApps™ has its operations in Singapore, Arlington (US) and Bangalore (India).

Tata AutoComp Systems Limited (TACO), India, promoted by the Tata Group, offers a range of products and services to global automotive customers. It is one of the largest and fastest growing automotive component groups in India.

With capabilities spanning engineering, manufacturing and supply chain management, TACO has promoted fourteen ventures, in partnership with leading companies from the global auto component industry such as Johnson Controls (seating), Yazaki (wiring harnesses), Faurecia (interiors), Toyo Radiator (radiators), Knorr-Bremse (air braking) and Ficosa (control cables and mirrors).