Latest News | GM, Magna, Wipro Team Up to Develop Automotive Software Marketplace SDVerse

New Delhi, Mar 5 (PTI) Automobile company General Motors, automotive supplier firm Magna and IT major Wipro have teamed to develop a B2B automotive software marketplace SDVerse, a joint statement said on Tuesday.

According to a regulatory filing, Wipro will acquire a 27 per cent stake in SDVerse for USD 5.85 million, or about Rs 48.5 crore, and the transaction is expected to close before the month-end.

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"General Motors (GM), global automotive supplier Magna, and leading technology services and consulting company Wipro Limited, have teamed up to develop a B2B sales platform for buying and selling automotive software.

"The platform, called SDVerse, aims to revolutionise the automotive software sourcing and procurement process by providing a matchmaking platform for buyers and sellers of embedded automotive software," the statement said.

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Prashant Gulati has been named CEO of the new organization effective March 5.

SDVerse will provide a matchmaking platform for buyers and sellers of embedded automotive software.

"Unlike the traditional captive software development approach, SDVerse focuses on connecting automotive software buyers and sellers through a transparent and efficient digital platform.

"Sellers can list their software's features and attributes, while buyers can easily search and explore the available software products through a comprehensive catalogue," the statement said.

Renault Group's EV and software firms Ampere, FEV, Forvia, HL Mando, NXP Semiconductors, TTTech Auto, and Valeo have onboarded SDVerse as launch partners.

"The current paradigm for software sourcing will likely not be able to overcome this growing gap without sacrificing both profitability and the auto industry's aspirations for software-defined vehicles.

"SDVerse addresses these pain points, offering a wide range of benefits across the industry," Wipro global head Wipro Engineering Edge Harmeet Chauhan said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)