Stellantis is launching a new business unit dedicated to turning all that vehicle data into marketable products — and revenue.
The idea is to take data generated by its millions of connected vehicles (including information generated from sensors on its cars, trucks and SUVs) and turn it into applications and services that customers might want. For instance, the data could be used to provide personalized usage-based insurance, detect road hazards and provide information on traffic.
The new Mobilisights unit is the latest move by the company to make revenue beyond selling, repairing and financing vehicles. In December 2021, Stellantis laid out the basic framework of a plan to generate billions in annual revenue from software in its vehicles, a vast portfolio that includes 14 brands such as Alfa Romeo, Chrysler, Citroën, Fiat, Jeep, Lancia, Maserati, Peugeot and Ram.
Stellantis has said it will invest more than $33.7 billion through 2025 into software and electrification. That investment will include employing 4,500 software engineers by 2024.
The end goal is to have 34 million connected cars on the road by 2030 that Stellantis can generate revenue from for years after they’re sold to consumers. To reach its target, Stellantis is leaning on partnerships with BMW, Foxconn and Waymo. Today, the company has more than 12 million “monetizable” connected cars globally. Stellantis defines “monetizable” as the vehicle’s first five years of life.
Mobilisights has exclusive access and rights to license vehicle and related data from all Stellantis brands to external customers, according to the automaker. Stellantis contends that controlling this volume and density of data will make it less reliant on other data suppliers.
The company added that customers are able to opt out of information being collected even if they had previously given consent.
“The foundation of this whole business is trust,” said Mobilisights CEO Sanjiv Ghate. “Trust in our custodianship of data and trust that we are here to create a better world.”
Stellantis launches new business unit to turn your vehicle data into cash by Kirsten Korosec originally published on TechCrunch