(Reuters) – General Motors, auto parts supplier Magna and IT company Wipro said on Tuesday they were working together to create a sales platform, called SDVerse, to buy and sell automotive software.
SDVerse will link the buyers and sellers through a digital platform, where the software’s features and attributes can be listed.
The platform is in its development stage and is expected to feature hundreds of automotive software products and participants across the industry.
The announcement comes at a time when automakers are ramping up their tech investments to help create connected vehicles with advanced driver aids.
While the companies did not detail specific revenue targets, SDVerse will follow an annual subscription fee model and not charge any fee for buying or selling products.
GM, Magna and Wipro will hold seats on the board of SDVerse but the platform will operate independently.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)
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