The connected car penetration surpassed that of non-connected cars for the first time ever globally, capturing almost 50.5 per cent share in the second quarter (Q2) this year.
5G-ready car sales surpassed half a million, though 4G accounted for 90 per cent of connected car sales.
According to Counterpoint Research, the US overtook China to lead the global connected car market and the top five automakers were Volkswagen, Toyota, GM, Stellantis and Hyundai.
The US, China and Europe accounted for nearly 80 per cent of connected car sales in the quarter.
“The US market trailed China in terms of connected car sales in the first quarter of this year. However, with the resurgence of Covid-19 and plant shutdowns in China from March onwards, the US overtook China,” said senior analyst Soumen Mandal.
According to the report, automakers are focusing on using powerful on-board computers for next-generation connected mobility.
“4G cars still dominate the global connected car market, capturing 90 per cent of shipments in Q2 2022, whereas 5G cars accounted for around 7 per cent. Although 5G’s share will continue to increase, 4G will see increased sales on a yearly basis until 2027,” said Research Vice-President Peter Richardson.
Non-connected cars have been steadily declining as automakers prefer to upgrade their portfolio with factory-fitted embedded connectivity even in base model variants.
Luxury brands like BMW, Mercedes and Audi were the first to introduce connected cars with inbuilt Wi-Fi, even before the initial push towards connected vehicles came from government mandates like eCall.
According to the report, there are several factors hindering the proliferation of 5G for cars, such as high prices of 5G NAD/TCU, and patchy network coverage even where 5G has been launched which, in turn, means limited availability of 5G capable cars.
Furthermore, there is only nascent adoption of ADAS/AD levels. Currently, there are few Level 3 capable models and all use 4G.
“We expect that mass adoption of 5G connectivity will only occur after 2025, when most of these issues will have been resolved,a said Richardson.
Google Play introduces UPI Autopay payment in India
Google announced on Tuesday that it is introducing UPI Autopay as a payment option for subscription-based purchases on Google Play in India.
Introduced under UPI 2.0 by NPCI (National Payments Corporation of India), UPI Autopay helps customers make recurring payments using any UPI application that supports the feature.
“With the introduction of UPI Autopay on the platform, we aim to extend the convenience of UPI to subscription-based purchases, helping many more people access helpful and delightful services – while enabling local developers to grow their subscription-based businesses on Google Play,” Saurabh Agarwal, Head of Google Play Retail & Payments Activation – India, Vietnam, Australia and New Zealand said in a statement.
Moreover, UPI Autopay makes setting up subscriptions easy.
Users need to simply tap on the payment method in the cart, select “Pay with UPI,” and then approve the purchase in their supported UPI app after selecting a subscription plan to purchase.
Google Play helps consumers transact safely and seamlessly in more than 170 markets, according to the report.
Also, the platform supports over 300 local payment methods in over 60 countries, removing complexities associated with finding and integrating local payments.
UPI is one such payment option, introduced on the Play Store in India in 2019.
In India, UPI has transformed the mobile payment framework, and on Google Play as well, many people are enjoying and using apps that take advantage of UPI-based transactions, the statement added.
Invest Karnataka 2022 paved way for Rs 9.82 lakh cr investment: CM Bommai
Karnataka Chief Minister Basavaraj Bommai announced at the concluding ceremony of the 3-day Global Investors Meet (GIM) in Bengaluru that “investments totaling about Rs 9.82 lakh have been committed in diverse sectors in the state.” Bommai thanked the participants in the event and investors.
Addressing the gathering, the CM said, “This GIM is different from other such Investor Meets as this has been organised during challenging times and has succeeded in showing us the way forward. What Karnataka thinks today, India thinks tomorrow. We will work with the investors shoulder to shoulder to make all these investments fructify on the ground.”
Thanking all the investors and delegates who participated in the GIM 2022, Karnataka Large and Medium Industries Minister, Murugesh Nirani, said “Invest Karnataka has laid a strong foundation for the development of Karnataka in the next five years. I am happy that we have met the core objective of this GIM, which is to bring in investments in diverse sectors and create jobs, and take industries beyond Bengaluru.”
The valedictory session was also attended by Bhagwanth Khuba, Union Minister of State for New and Renewable Energy, Chemicals & Fertilizers.
Inaugurated by Prime Minister Narendra Modi virtually on Wednesday, the event culminated on Friday with the valedictory session in which Chief Minister Basavaraj Bommai re-assured investors from all across the world of sustained support by his government.
Among top industrialists, Chairman of Jindal Group, Sajjan Jindal; Vice Chairman of Toyota Kirloskar Motor Pvt Ltd, Vikram S. Kirloskar; Chairman, Wipro, Rishad Premji; Vice Chairman, Bharti Enterprises, Rajan Bharti Mittal; CEO, Adani Ports and SEZ, Karan Adani and MD, Sterlite Power, Pratik Agarwal shared their experience in Karnataka and expressed continued interest in the state.
The Global Investors Meet witnessed 30+ immersive sessions spread across three days. These sessions were a mix of innovative formats such as panel discussions, fireside chats, and TED-style talks.
In addition to the speaker sessions, a number of networking events, cultural performances, business exhibitions (with 300+ exhibitors), and country sessions ran parallelly across the 3 days. The country sessions were hosted by partner countries — France, Germany, Netherlands, South Korea, Japan and Australia.
Unfortunately, there is no choice: Musk on Twitter layoffs
Elon Musk on Saturday said that there is no choice other than brutally firing half of Twitter’s workforce as the company is losing over $4 million a day.
After axing nearly 3,800 employees across the globe, including in India, the new Twitter CEO said that he has given three months of severance to everyone who has been asked to go.
“Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day,” Musk tweeted.
“Everyone exited was offered 3 months of severance, which is 50 per cent more than legally required,” he added.
Musk has laid off people across the departments at Twitter, eliminating several teams across the globe.
He also said that Twitter has seen a massive drop in revenue as activist groups are putting undue pressure on its advertisers.
“Again, to be crystal clear, Twitter’s strong commitment to content moderation remains absolutely unchanged. In fact, we have actually seen hateful speech at times this week decline below our prior norms, contrary to what you may read in the press,” he posted.
“Twitter will not censor accurate information about anything,” said Musk.
On charging $8 for the Blue subscription service, he said: “Trash me all day, but it’ll cost $8.”
The company lost $270 million in the April-June period after revenue slipped 1 per cent to $1.18 billion, reflecting advertising industry headwinds.
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