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India to shift to 'smartphone era' for cars embracing 5G, advanced AI in 2025: Report

Business InsiderBusiness Insider · 8m ago
India to shift to 'smartphone era' for cars embracing 5G, advanced AI in 2025: Report
Medial

India is expected to transition into a "smartphone era" for cars by 2025, with the introduction of 5G M2M connectivity and advanced AI technologies, according to Techarc's India Connected Consumer Report 2025. The automotive sector will skip 4G and adopt 5G technology, providing connectivity and advanced features. Consumers are more interested in improving the value proposition of their cars rather than investing in multiple smart devices. Starting in 2025, passenger cars in India will have 5G M2M connectivity, on-device GenAI, and cloud connectivity. In-vehicle computing and AI applications will become essential for real-time data processing, offering enhanced experiences, performance, safety, and entertainment for drivers and passengers. MG Motors, Kia Motors, Tata Motors, Hyundai, and Maruti Suzuki are the top brands in providing connected cars in India.

In April 2016 Elon Musk invited Indians to book Tesla Model 3s, now they’re asking for the money back as car never came… | Mint

LivemintLivemint · 12m ago
In April 2016 Elon Musk invited Indians to book Tesla Model 3s, now they’re asking for the money back as car never came… | Mint
Medial

In 2016, Tesla opened preorders for its Model 3 in India. However, due to concerns about taxes and building a factory in the country, Tesla has yet to deliver cars in India. Other automakers have since launched their own electric vehicles (EVs) in India, and the EV market has evolved significantly. Tesla's position has also changed, with slowing sales and the need for more affordable cars. India's domestic auto market is dominated by Maruti Suzuki, Hyundai, and Tata Motors, and EV sales still represent a small portion of total car sales. To succeed in India, Tesla would need to build affordable EVs in the country and establish a robust charging network.

Razorpay acquires majority stake in POP with $30 Mn investment

EntrackrEntrackr · 1m ago
Razorpay acquires majority stake in POP with $30 Mn investment
Medial

Razorpay acquires majority stake in POP with $30 Mn investment Rewards-first UPI payments app POP has raised $30 million from Razorpay to grow its payments and commerce platform. With this, Razorpay has acquired a majority stake in the Bengaluru-based startup. While POP did not share further transaction details, it will operate as a separate entity. Earlier in June last year, POP had raised $2.4 million in its seed funding round led by India Quotient and a few prominent angel investors. The fresh proceeds will be used to improve its products, grow its merchant base, and enhance its rewards program. POP started its UPI platform in June 2024. It claims to have crossed 6 lakh daily transactions and 1 million unique monthly transactions within the first year. According to the company, it fulfilled 2 lakh orders and issued over 40,000 RuPay credit cards in collaboration with Yes Bank. POP’s main feature is POPcoins, a multi-brand rewards currency that consumers earn when making payments or shopping on the platform. These POPcoins can be redeemed across POP’s extensive merchant network, offering users flexible and valuable incentives. Razorpay’s investment in POP expands its services into loyalty, engagement, and commerce. POP’s payments and rewards ecosystem lets merchants reward transactions and payments directly. Previously in September 2022, Razorpay acquired PoshVine to add loyalty and rewards to its payments stack. POP will help Razorpay serve merchants by offering payments, loyalty, and engagement services in a single platform. The development follows Razorpay’s recent announcement to shift its domicile back to India from the US. While the company has no immediate plans for a public listing, it has completed key regulatory steps, including its transition into a public limited company and securing approval for the merger of Razorpay Inc. with Razorpay India. Razorpay stands out as one of the few profitable unicorns in the fintech space, having reported revenue of Rs 2,068 crore and a profit of Rs 35 crore in FY24. The company is yet to announce its FY25 results.

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